The Labour Party has pledged to “reduce food prices” by “removing barriers to businesses trading”, as a part of its manifesto.

Speaking to crowds in Manchester today (13 June), Labour leader Keir Starmer unveiled the party’s plan if elected in July.

He said it “recognises food security is national security”, and added that it would “champion British farming” while protecting the environment.

Among other measures, it will set a target for half of all food purchases across the public sector to be locally produced or certified to higher environmental standards, while it demonstrated its commitment to health by confirming it was banning advertising junk food to children along with the sale of high-caffeine energy drinks to under-16s.

Meanwhile, the party also promised to cap corporation tax at the current level of 25%, making it the lowest in the G7, for the entire parliament.

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It also plans to replace the business rates system, which “disincentives investment, creates uncertainty and places an undue burden” on high streets, to be replaced by a new “fairer” system. It vowed that this would “level the playing field” between high street and online retailers.

Elsewhere the party confirmed its crack down on retail crime, with the promise to scrap the “effective immunity for some shoplifting introduced by the Conservatives”, create a specific offence for assaults against shop workers and a Neighbourhood Policing Guarantee, including the recruitment of thousands of new officers.

BRC chief executive Helen Dickinson applauded Labour for recognising “the current business rates system is broken”, and described the manifesto as including “many of the right policies to help retail invest for the future.”

Dickinson added; “From replacing the broken business rates system, to reforming the rigid Apprenticeship Levy, Labour are promising to make changes that will have a meaningful impact to retailers and their customers. Should they be elected on July 4th, it is vital they continue to engage with businesses on the finer details of many of these policies.”

Labour’s manifesto proposals come as the Liberal Democrats and the Conservatives unveiled their own policies earlier this week.

On Tuesday (11 June), the Tories vowed to increase the UK-wide farming budget by £1bn, yet industry experts criticised the manifesto as a “missed opportunity for business”.