The shadow business secretary, Ken Clarke, has promised that a Conservative government will help small and medium-sized businesses, "the bedrock of the economy."

Mr Clarke said that Labour had failed to encourage private investment into new technologies and that he wanted to simplify regulation and employment law to create more business development opportunities.

The shadow business secretary has also promised that a Conservative government would make lending to businesses a priority.

"We have to create an economic climate in which British business can flourish. One of my high priorities is to create the right environment for SME businesses to thrive," said Mr Clarke.