Liberal Democrats promise budding entrepreneurs £100 a week

Tim Farron: Picture credit - Dave Radcliffe

Budding entrepreneurs will be handed £100 a week to help with their living costs if the Liberal Democrats win the election, the party has announced.

People starting up their own businesses will get the help worth up to £2,600 for the first six months after they branch out alone, leader Tim Farron explained.

"While the Conservatives focus on giving tax cuts to giant corporations, our focus is on small businesses seeking to grow,” he will declare today.

The scheme, which is the centrepiece of the Lib Dems’ business manifesto, is expected to cost £146m over five years.

Elsewhere the document will promise to remain in the EU single market as well as review business rates and access to credit and loans.

Farron will say: "Unlike Labour and the Conservatives, we would stay in the single market.

"The Conservatives have lost the right to call themselves the party of business. The Liberal Democrats are now.

"While the Conservatives focus on giving tax cuts to giant corporations, our focus is on small businesses seeking to grow."