Fitch places UK economy on negative outlook

Fitch Ratings warned on Wednesday it could downgrade the UK in the next few years if the government does not contain the level of public debt. It follows a similar move by the Moody's agency last month. The warning comes as Chancellor George Osborne puts the finishing touches to this year's Budget, which will be delivered next Wednesday. Fitch said the UK had a "very limited fiscal space to absorb further adverse economic shocks" after recognising its commitment to cutting the budget deficit. "In light of the considerable uncertainty around the economic and fiscal outlook, inclu...