General election 2019: Parties compete to win business backing as Tories promise firms £1bn in tax cuts All the main party leaders are setting out their policies at the CBI conference

The Conservatives will today promise companies £1bn in tax cuts as the party leaders compete to win over business leaders at Britain’s biggest corporate gathering.

Labour will call for the creation of 320,000 “climate apprentices” while the Liberal Democrats will pitch themselves as “the natural party of business”.

Boris Johnson, Jeremy Corbyn and Jo Swinson are all making speeches at the CBI conference in London on Monday. They will announce a range of policies aimed at winning the support of businesses.

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The Tory leader will acknowledge that most large firms are opposed to Brexit but will insist that his re-election would provide “certainty” that allows business to plan for the future.

National Insurance cut

He will pledge a package of tax reforms for business adding up to £1bn a year by 2023, including a cut in the National Insurance contributions paid by smaller firms. The existing “employment allowance”, a discount of £3,000 on a company’s NI bill, would increase to £4,000.

The “structures and buildings allowance”, a 2 per cent tax credit on the cost of building or refurbishing business premises, would increase to 3 per cent. And the tax credit on research and development spending would go up from 12 per cent to 13 per cent.

Mr Johnson will also promise a cut to the overall level of business rates but is not expected to provide any details on how it would work and who would benefit.

The Prime Minister is set to say: “Let’s not beat around the bush, big business didn’t want Brexit. You made that clear in 2016 and this body said it louder than any other. But what is also clear is that what you want now – and have wanted for some time – is certainty. So that you can plan and invest, so you can grow and expand, so that you can create jobs and drive prosperity.”

Climate pledge

Mr Corbyn will promise to reform the existing apprenticeship levy scheme, hiving off a quarter of its funding to create 320,000 climate apprenticeships which would train young people to work in green jobs such as renewable energy technicians, eco-friendly builders and agriculture experts.

Companies would also have four years rather than two to spend the funds set aside for the apprenticeship levy in order to ensure that longer-term schemes are still viable.

The Labour leader will say: “Climate apprenticeships will offer training to school leavers and workers looking to change jobs mid-career, creating the engineers, technicians and construction workers we need to transition to a green economy. This election is our last chance to tackle the climate emergency.”

In her speech, Ms Swinson is expected to hit out at the leaders of the two biggest parties and accuse them of damaging the economy with their Brexit plans. She will say: “If you want to get Brexit done or get Brexit sorted, you are not the party of business.”

Yesterday CBI boss Carolyn Fairbairn warned Labour and the Tories against “excessive spending pledges”. She told Sky News that Mr Corbyn’s nationalisation plans could “crack the foundations of our economy” and attacked the Conservatives’ promise to tighten immigration rules.