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Ed Balls pledges to keep low corporation tax rate

Shadow Chancellor Ed Balls is to set out how Labour would help nurture British business by maintaining the lowest rate of corporation tax in the G7 group of major industrialised nations.

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Cruddas comments come as Labour reveals UK vision

Jon Cruddas, Labour's policy chief, said the party was parking bold reforms in favour of "cynical nuggets of policy" as Labour prepares to set out its vision for rebuilding Britain through reforms of the state and big business.

Jon Cruddas or parking bold reforms in favour of "cynical nuggets of policy|" Credit: REUTERS/Stephen Hird

The party will reverse a century of centralisation by diverting £30 billion of funding to create "powerhouse" English cities and counties, Ed Miliband has said.

As well as pulling together plans on tackling "broken markets", changes to the welfare system and a crackdown on tax avoidance, it will lay out the results of former transport secretary Lord Adonis's review on growth polices.

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