Labour will build an economy for the many, not the few.
We will do this by:
Making sure everyone who works can afford to live.
We will raise the minimum wage and give tax breaks to companies that sign up to pay a living wage. We will cut income tax for 24 million people by bringing back the 10p income tax rate. Making sure all work pays a decent wage will make our economy stronger.
Backing our entrepreneurs and small businesses.
We will make it easier to start and grow businesses. We’ll create a British investment bank that will lend money to new and growing businesses. We'll support small businesses by cutting business rates for 1.5 million small firms and freezing their energy bills.
Balancing the books, doing it in a fairer way.
We will reverse David Cameron’s tax cut for millionaires and cut spending where it is sensible to do so. We will cap welfare spending, tackling the root causes of social security spending, including by getting more people into work, making work pay and getting more homes built.