article_snippet: Shadow chancellor Ed Balls said the move would enable them to throw a lifeline to smaller firms - cutting business rates on 1.5 million small firms - rather than the big companies which benefit from the reduction in corporation tax.
article_snippet: Meanwhile, Mr Balls announced that the first budget of a Labour government will cut business rates for 1.5 million small companies – worth an average of £400 – to be followed by a freeze the following year.
article_snippet: Labour say that 17 small firms would benefit from the cut for every one large business helped by the reduction in corporation tax – first announced in Chancellor George Osborne's 2013 Budget – which takes effect next month.
article_snippet: Mr Balls will say: 'Unleashing the potential of smaller businesses to grow, create more good jobs and raise living standards is a vital part of Labour's better plan. '
article_snippet: This is part of our plan to deliver a simpler and fairer tax system for small businesses.
article_snippet: And This will mean that the tax burden on small businesses will be lower with Labour than under the Tories.'
article_snippet: The Conservative Party is helping businesses small and large as part of our long-term economic plan - we don't divide businesses small and large up for the sake of making a political point.'