REEVES: NO NEW TAX FOR BUSINESSES

Labour's finance supremo says party will offer stability to firms

- LIZZY BUCHAN and ASHLEY COWBURN

LABOUR has pledged to cap corporation tax as party chiefs woo business leaders.

Shadow Chancellor Rachel Reeves told a business conference yesterday she would cap the tax at its current 25% for at least five years, after Tory instability.

She said: "There have been 26 changes to our corporation tax arrangements in this Parliament alone. We can't go on like this." Rejecting calls from Tory rightwingers to lower the tax, she said: "Our current rate is the lowest in the G7.