IFS: Osborne should make tax cuts to avoid recession

THE CHANCELLOR should make emergency tax cuts to avoid recession the Institute for Fiscal Studies has suggested.

Cuts to National Insurance or VAT could be cut by up to £20bn to stop a recession The Daily Telegraph reports.

The IFS warns that the continued crisis in the eurozone may push economic growth down this year and in 2013.

Chancellor George Osborne (pictured) will deliver his budget on March 21 and is under pressure to unveil tax cuts to revive the economy.

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