'We are on the side of those who work hard'

Labour. The Conservative leader's bold blueprint also includes slashing energy costs and cutting red tape to help shops flourish.

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Her four-pronged plan, which would be introduced if the Tories win the next election, gives a massive boost to the Daily Express Save Our High Streets Crusade.

Mrs Badenoch said: “Labour's job tax is hitting high streets hard shops, cafes and leisure facilities are all suffering. More and more stores are boarded up, pubs are closing down at an alarming rate.

“And that means thousands of workers are losing their jobs.”

Currently, eligible retail, hospitality and leisure businesses can receive a 40% discount on their business rates, up to a cap of £110,000. Under Conservative plans, business rates will be ditched altogether, up to the same cap.

The party says the move will free up a quarter of a million businesses from ever-increasing tax rises, which include Rachel Reeves’ punishing National Insurance hike.

Battering

A Labour Party spokesperson, responding to the Conservatives' announcement, said: “We are also creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.”

The Beer and Pub Association has warned more than 2,000 venues are at risk of closure next year.

This is the equivalent to the loss of more than 12,000 jobs and six closures a day. But it says a cut in the business rate multiplier of 20p in the pound for pubs could keep approximately 800 open and save more than 5,400 at-risk jobs.