UK needs to cut debt steadily to regain triple-A rating - Fitch

LONDON (Reuters) - Credit ratings agency Fitch said on Thursday that it would be unlikely to restore Britain's top-notch sovereign credit rating until government debt started to fall steadily as a percentage of national income. "An upgrade to 'AAA' is unlikely without a lower and steadily declining government debt ratio," Fitch said in a statement. British Chancellor George Osborne said in his annual budget statement on Wednesday that Britain's government debt-to-GDP ratio would peak in the current financial year, and fall by a small amount in the new tax year starting in April. The agency also said no political party looked likely to win a majority in May 7's national election, which could constrain policymaking by the next government. (Reporting by Andy Bruce, editing by David Milliken)