Ratings Agency Fitch May Cut UK's AAA Credit

George Osborne In Thought

A warning by the ratings agency Fitch may cut the UK's AAA credit rating because of the country's economic problems. The treasury spokesman said that the government is on track to fix them, Reuters reports.

"This serves to underline that there are no easy answers to problems built up over many years. But we are, slowly but surely, fixing our country's economic problems ," the Treasury spokesman said.

"As the (finance minister) said at the budget : it's taking longer than anyone hoped, but we're on the right track," he said in a statement after Fitch's announcement.

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