The Liberal Democrats have pledged to make small businesses “the priority for any future business tax cuts” if elected to government.

Launched today, its manifesto said the party would also review business rates and create a new “start up” allowance to help those starting a new business with their living costs in the first few weeks of trading.

“Our priority in supporting entrepreneurs and small businesses is to ensure that they have access to the funding they need, and in particular long-term (and patient) capital,” the document states.

It would also reverse both the government’s plan to cut corporation tax from 20% to 17% and capital gains tax cuts.

The manifesto pledges to “stamp out” abuse of zero-hours contracts by creating a formal right to request a fixed contract.

The Conservatives will launch their manifesto tomorrow (Thursday 18 May).