Labour party calls for tax cuts to boost economy

LONDON (Reuters) - Chancellor George Osborne should cut payroll taxes in a budget next week to boost a stagnant economy teetering on the edge of its third recession in four years, the Labour party said on Saturday. An emergency tax cut would pay for itself as it would stimulate economic growth, Labour finance spokesman Ed Balls said in a newspaper interview. "Something must be done now ... you need some fiscal action," he told the Daily Telegraph. ...