"Small companies will get a tax cut from Labour if we win the election."
Speaking in Swindon in March 2015, Ed Balls said: “Instead of going ahead with the further cut in the large corporation tax rate, we’ll keep it at 21p, and use the money instead to cut and then freeze, for a second year, business rates for small companies.”
Mr Balls added: “That would mean an average saving of £400 a year for small companies. This is going to help 1.5ml small companies across all of England.”
“This is part of our plan to deliver a simpler and fairer tax system for small businesses.”
Ed Miliband reaffirmed this promise during the ITV Leaders’ Debate in April 2015, saying that a Labour government will “reverse the tax cut”.