Moody's credit ratings agency lowered its assessment of the UK's creditworthiness from AAA to Aa1 on Friday, the first time the UK has been moved off the hallowed rating since 1978, and warned of several years of "sluggish" growth ahead.
Labour said the Chancellor had suffered a "humiliating blow", given he had made maintaining the AAA rating a cornerstone of Treasury policy. However, Osborne insisted the UK's credibility was intact.
His family said he died at Glasgow’s Southern General Hospital on Thursday died on Thursday night from bronchial pneumonia. He had recently been diagnosed with cancer.
Born in Dundee, Mr Millan was elected MP for Glasgow Craigton at the 1959 General Election and held that seat and, after its abolition Glasgow Govan, until 1988.