Called ‘A Better Plan for Business’, the manifesto states that Labour’s aim is to ‘back British businesses to create the high skilled, high wage jobs we need to raise living standards’.

It includes a commitment to ‘reduce the deficit in a fair way’, which it says will include ‘closing the tax loopholes that cost the Exchequer billions each year and stopping paying the winter fuel allowance to the richest five per cent of pensioners.’

There are no specific details of which loopholes would be addressed, while the document states that Labour will ‘ask the highest one per cent of earners, with incomes over £150,000, to pay a little more to help get the deficit down by reversing the cut to the top rate of tax’.

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