By Chris Dorrell The UK might suffer a debt downgrade if it goes ahead with another bout of tax cuts, a major ratings agency suggested. In a note published yesterday, Fitch Ratings acknowledged that there had been relatively good news on the UK’s debt dynamics since its last rating in December. However, with another ratings review scheduled for 22 March, Fitch said that “policy priorities will help clarify whether fiscal consolidation will be sufficient to reduce risks from high debt and borrowing costs.”. It said it would examine whether the government’s announcements in the Budget help “redu…