Ed Miliband will promise to reverse the planned rise in business rates when he makes his conference speech in Brighton tomorrow. There is a rise in business rates due to take effect in April 2015. The general election is due a month later.
The party leader will commit a new Labour government to return business rates to the pre-April 2015 level. The leadership says the move will benefit 1.5 million small businesses. The average saving (based on the planned rise before the election) will be around £225 per year, the party claims.
The reduction will be funded by reversing the planned cut in corporation tax also due to take effect in April 2015. Corporation tax is due to be cut from 21% to 20%. Labour says it helps 80 thousand large companies.
So Labour promise is to reverse the planned rise in business rates by reversing he planned cut in corporation tax (still with me?).
Ed Miliband's aides say it symbolises his approach to an economy which benefits working people in small businesses. He will say Labour is "the party of small business."
In a release of the text of parts of Mr Miliband's speech, he will say: "For too long in this country, we've supported some businesses and not others.
Since this government came to power, they've cut Corporation tax on large businesses by £6 billion. At the same time taxes have gone up for small businesses."
The speech will build on what has been a concerted campaign to tackle what Labour calls the "cost of living crisis."
Mr Miliband will also say: "David Cameron talks about Britain being in a 'global race'. But what he doesn't tell you is that he thinks the only way Britain can win, is for you to lose. For the lowest wages, the worst terms and conditions, and the fewest rights at work - a race to the bottom. The only way we can win is in a race to the top."
Mr Miliband is determined to portray Labour as the party which is on the side of the many and Conservatives on the side of the privileged few. There will also be announcements on the help Labour is promising on child care provision and the minimum wage. His team will not yet say whether the speech will be delivered with notes or, like last year, without.