Ratings agency Fitch lowered the outlook for its credit rating for British government debt to “negative” from “stable” on Wednesday, days after a similar move from rival Standard & Poor’s following the government’s Sept. 23 fiscal statement. “The large and unfunded fiscal package announced as part of the new government’s growth plan could lead to a significant increase in fiscal deficits over the medium term,” Fitch said. Fitch maintained its “AA-” credit rating for Britain, which is one notch lower than S&P’s. Finance minister Kwasi Kwarteng announced 45 billion pounds ($51 billion) of unfunded tax cuts in the Sept. 23 statement alongside large energy subsidies and other measures aimed at boosting growth, but financial markets baulked at the extra borrowing. Sterling fell to a record […]