‘They’ve let down small businesses’: Streatham’s Chuka Umunna hits back after Tory business letter boost

 Shadow Business Secretary Chuka Umunna has refuted claims that a Labour government would be ‘far too risky’ for businesses branding the Conservative-led coalition a ‘failure’.  

Mr Umunna was responding to a letter organised by small business ambassador Karren Brady and sent to The Telegraph which has been signed by leaders of 5,000 small companies.

It reads that the signatories would like to see Cameron and Osborne given the chance to ‘finish what they’ve started’ and that a change in government would be ‘far too risky and would undo all the good work of the last five years’.

Mr Umunna said: “The Tories have spent five years letting down Britain’s small businesses.

“Government scheme after government scheme designed to boost finance for small firms has failed, and small business lending has fallen by £500m in the last three months.”

The letter is viewed by some as a ringing endorsement for the Conservatives, however Mr Umunna was keen to stress that Labour plans to reduce the tax burden on small firms showed the party’s commitment to business.

He said: “With Labour, the tax burden on small firms will be lower than under the Tories who have overseen an increase in business rates of around £1,500.

“Labour’s Better Plan will cut – then freeze – business rates, set up a Small Business Administration and a proper British Investment Bank to back small businesses.

“And only Labour will tackle late payment and the unfair treatment of small suppliers we’ve seen under the Tories.”

Picture courtesy of Green Alliance1, with thanks

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