Business leaders sign letter backing Conservatives

The newly-appointed boss of betting firm Ladbrokes has distanced himself from a letter supporting the Tories which was signed by his predecessor.

Jim Mullen said it was not for him or the business to "tell people how to vote", adding: "I want to make it clear that our business is to take bets on the General Election, not to tell people how to vote."

Mr Mullen is the second senior executive to distance themselves from the letter, after the head of AstraZeneca withdrew his name earlier today.

In a letter to the Telegraph, Mullen said: "There are many shades of political opinion in our workforce of 15,000 never mind ex-employees or our customer base of millions of people.

"My vote is worth the same as theirs and their choice of vote is their business. So I won't be signing any letters in this, or any other General Election, that seeks to tell people how to vote."

A business leader who signed an open letter backing the Conservatives has withdrawn his name.

Pascal Soriot, chief executive of pharmaceutical giant AstraZeneca, was one of 103 executives to sign the letter warning a "change in course" would risk Britain's recovery.

Mr Soriot, however, said he did not want his name used in the context of the letter and did not wish to endorse any political party ahead of the May 7 vote.

Mr Soriot agreed to add his name after being shown the content of the letter by a senior party figure, according to reports.

"Neither I nor AstraZeneca endorse any political party and, while I support such policies, my name should not be used in the context of the letter," he said in a statement.

Ed Balls clarified his stance on the issue of lowering the 40p tax rate today by stating he had "no intention of reducing the threshold."

The Shadow Chancellor's comments came following criticism by the Tories over his comments on ITV News West Country last night, in which he 'refused' to rule out lowering the tax rate threshold.

Watch Balls' full comment here:

Labour leader Ed Miliband has pledged to prevent working people from exploitation by employers mis-using zero-hour contracts.

He said the battle lines had been drawn between his party, which he said would back working families, and the Tories, who he claimed were only looking after the country's elite few.

ITV News political correspondent Carl Dinnen reports:

Shadow Chancellor Ed Balls has been criticised by the Tories for his comments on ITV News West Country last night, in which he 'refused' to rule out lowering the 40p tax rate threshold if Labour win the election.

George Osborne today accused his counterpart of proposing to tax middle earners and said: "He has made it pretty clear I think that he wants to drag more people into that 40p rate of tax... I think that is wrong now and the Conservative party has a very clear plan to raise the threshold to £50,000."

Labour said the claims that Balls was effectively leaving the door open to changing the threshold was "Tory nonsense", and stated: "Ed Balls was clear and Labour's position is clear: we want fewer people paying the 40p tax rate. We want to ease burden on working families."

A warehouse worker employed over Christmas on a zero-hour contract has said he believes the arrangements should be banned.

David told ITV News he was employed by an agency on a zero-hours contract in Barnsley over Christmas - but has not had any work since Boxing Day.

He said the contract meant he was tied to his house, even when he had not been booked in advance for a shift.

Chancellor George Osborne has said Britain should stick with the economic recovery plan that "is working", as he hit the campaign trail today.

Championing the Conservative's recovery plan he warned that changing course now could affect the work that had already been done.

He said: "We believe a change in course will threaten jobs and deter investment. This would send a negative message about Britain and put the recovery at risk".

Outlining his party's economic plan the Chancellor said key issues included:

• Supporting low taxes - but low taxes that are paid
• The intended creation of 2 million new jobs
• Plans to cut the jobs tax (employers national insurance)
• Plans to abolish the jobs tax for employing apprentices under the age of 25

Chancellor George Osborne has told workers today that there are "just 36 days left to save Britain's economic recovery" and said his party are the ones to deliver a stable course of action for dealing with the country's finances.

Citing a letter published in The Telegraph today, which backed the Conservative's economic plans and was signed by more than 100 business leaders, he said the Tories had shown they were making a difference.

He said: "You can see we're providing businesses and families with the bedrock of economic stability that comes when you're dealing with your debts and you've got a clear plan."

He added: "No more ifs or buts. Britain now knows. Vote for Ed Miliband and Ed Balls on May 7 and jobs and investment and economic security will be at risk. We have just 36 days left to save Britain's economic recovery."