Labour vows to ‘pull up shutters’ for small business

On Friday, Labour said it would also look at guaranteeing access to High Street banking services for smaller firms by accelerating the establishment of banking hubs.

Speaking ahead of a small-business themed event held by Labour on Saturday, Sir Keir said that entrepreneurs had faced economic instability due to “Conservative chaos”.

However, Business Minister Kevin Hollinrake said that “Rishi Sunak and the Conservatives have a record of taking bold action to support small businesses”.

He pointed to previous measures taken by the government, such as freezing business rates for hospitality venues during the pandemic when trade was hit by lockdowns.

Drew Hendry, the economy spokesperson for the SNP, suggested that Labour’s plans were “empty promises” for Scottish small business owners.

He added that the SNP had already established the Scottish National Investment Bank, but called for the removal of “red tape, higher costs and worker visa blocks created by Brexit”.

Meanwhile, a spokesperson for the Liberal Democrats said that the Conservative party had “completely let down business owners time and time again”, and that it would also look at “overhauling” the business rates system.