Chuka Umunna, Labour’s Shadow Business Secretary, responding to a letter in tomorrow’s Daily Telegraph, said:

“No one will be surprised that some business people are calling for low taxes for big businesses. That’s nothing new and under Labour Britain will have the most competitive corporation tax rate in the G7.

"But whilst the recovery may have reached some firms it hasn’t reached many others which is why we will prioritise tax cuts for the smallest firms with an immediate cut in business rates for 1.5 million small business premises.‎ 

‎"And because we understand that Britain only succeeds when working people succeed ‎we are today announcing our plans to ban exploitative zero hour contracts. 

"We don’t believe, as David Cameron does, in more tax cuts for the richest in society - the priority is tax cuts for small firms, working people and saving our NHS.”