Labour proposes long-term tax breaks to increase UK investment and growth

News comes after top company bosses criticise government energy policy for failing to spur investment

Labour is considering bringing in long-term tax breaks to boost investment and raise the UK's sluggish growth rate, adding to pressure on the chancellor from a swathe of industry leaders calling for pro-business measures in next week's budget.

The shadow chancellor, Rachel Reeves, will tell a conference organised by the MakeUK employer's organisation on Tuesday that Britain needs a system of investment allowances lasting for the length of a parliament in order to provide companies with stability and certainty.