By Daniel Hunter

The UK has had its top AAA rating put on 'negative outlook' by the Fitch credit rating agency.

Fitch Ratings warned on Wednesday that it could downgrade the UK in the next few years if the government does not contain the level of public debt.

"In light of the considerable uncertainty around the economic and fiscal outlook, including the risks posed to economic recovery by ongoing financial tensions in the eurozone and against the backdrop of a still large structural budget deficit and high and rising government debt, the Negative Outlook indicates a slightly greater than 50% chance of a downgrade over a two-year horizon," Fitch said.

The warning comes lass than a week before Chancellor George Osborne is set to unveil the 2012 Budget.

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