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Business leaders back Conservative-led government

A further 30 business leaders came out in support of prime minister David Cameron and a Conservative-led government this week, adding their names to an open letter already signed by the bosses of Asos.com, Ted Baker, LK Bennett, Primark and Mothercare.

The letter, originally published by The Telegraph on April 1 and now signed by 150 senior executives, states the benefits of David Cameron and chancellor George Osborne’s flagship policy of maintaining corporation tax at the lower level of 20%. It was 28% when the coalition took office in 2010.

The letter claims the Tories’ approach shows the UK is “open for business”.

It warns that a Labour government would “threaten jobs and deter investment” and “put the [economic] recovery at risk”. Labour leader Ed Miliband has said his government would reverse the cut on corporation tax.

Miliband also said this week that he would scrap the non-dom tax status held by some British citizens, which allows them to not pay tax on earnings made outside the UK.

Other key battlegrounds in the run-up to the general election on May 7 include zero-hours contracts, the minimum wage, apprenticeships and business rates.

The Conservative party, which will publish its full election manifesto on April 13, has vowed to create 3 million apprenticeships and triple the number of start-up loans to businesses to 75,000 if they win the election.

Labour, which will also publish its manifesto this month at an unknown date, said it would raise the national minimum wage to £8 an hour over the course of the next parliament and ban “exploitative” zero hours contracts.

@LukeToddUK

Readers' comments (1)

  • Socialism and business do not go hand in hand. Miliband should be avoided at all costs a he doesn't know how the system works. He's just an idealist fool.

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