Labour’s business manifesto, revealed this week, includes a pledge to devolve £30bn to cities and counties to promote development.
The money will be used to fund employment, transport and housing, skills and businesses in order to “ensure every part of the country can benefit from economic recovery”.
The party has also pledged to cut and freeze business rates for smaller firms, and to keep UK corporation tax the lowest in the G7.
Launching the manifesto, Labour leader Ed Miliband said: “You need certainty about tax, so that you know Britain will continue to be competitive, come what may.”
Rather than “instigating another disruptive top-down reorganisation”, Labour plans to retain and improve local enterprise partnerships, said Miliband.
The party also intends to set up an independent national infrastructure commission.
As part of its commitment to infrastructure, Labour will continue to support HS2. HS3 was not mentioned in the manifesto.
