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Ed Miliband to set out Labour's key business plans | Ed Miliband to set out Labour's key business plans |
(about 1 hour later) | |
Ed Miliband is to set out his party's key plans for businesses ahead of the general election at a speech in the West Midlands. | Ed Miliband is to set out his party's key plans for businesses ahead of the general election at a speech in the West Midlands. |
The Labour leader is expected to tell an audience at Jaguar Land Rover in Wolverhampton he wants to create what he calls "more inclusive prosperity". | The Labour leader is expected to tell an audience at Jaguar Land Rover in Wolverhampton he wants to create what he calls "more inclusive prosperity". |
And he is is expected to say paying the living wage and banning zero-hours contracts will raise productivity. | And he is is expected to say paying the living wage and banning zero-hours contracts will raise productivity. |
But the Conservatives said Mr Miliband had "no economic plan". | |
Mr Miliband will also say the "vital link" that used to connect family finances to the wealth of the country as a whole is "broken." | |
He is expected to focus on sectors such as retail and social care, outlining plans to tackle the undercutting of wages. | He is expected to focus on sectors such as retail and social care, outlining plans to tackle the undercutting of wages. |
Mr Miliband will say his promised cuts to business rates and devolved funding will help small businesses and entrepreneurs. | Mr Miliband will say his promised cuts to business rates and devolved funding will help small businesses and entrepreneurs. |
He will also tackle the issue of tax too, claiming tens of billions of pounds are lost in tax avoidance that could be used to fund apprenticeships. | He will also tackle the issue of tax too, claiming tens of billions of pounds are lost in tax avoidance that could be used to fund apprenticeships. |
Shadow business secretary Chuka Umunna said Labour's plan was focused on "investing in people", with support for apprenticeships and people wanting to start their own business. | |
"We're going to set up a British investment bank, with a network of regional banks all over the country, so that people with good ideas, who've got a good business plan, can get access to the finance they need," he told BBC Breakfast. | |
Economic credentials | Economic credentials |
The BBC's political correspondent Ellie Price said the speech was an attempt to draw battle lines with the Tories - whom Mr Miliband claimed had presided over an economy where wealth came from the "top down". | |
And, our correspondent adds, it is also a calculation that the message will be enough to convince voters of Labour's economic credentials - despite very public criticism from some business leaders recently. | |
Business minister Matthew Hancock said: "The last few weeks have revealed Labour's true colours and their anti-business, anti-jobs attitude. | Business minister Matthew Hancock said: "The last few weeks have revealed Labour's true colours and their anti-business, anti-jobs attitude. |
"In the past, Labour smothered small businesses in higher taxes and red tape, and Ed Miliband's damaging tax rises on business would mean fewer jobs, fewer firms and economic chaos. | |
"As part of our long-term economic plan, we are backing small firms with lower jobs taxes and better infrastructure. | "As part of our long-term economic plan, we are backing small firms with lower jobs taxes and better infrastructure. |
"But Ed Miliband has no economic plan and is simply not up to the job - that's why he's the biggest risk to Britain's future economic security." | "But Ed Miliband has no economic plan and is simply not up to the job - that's why he's the biggest risk to Britain's future economic security." |