The Conservatives tricked some of the UK's biggest business names into backing proposals to axe Labour plans to increase National Insurance if they come to power, Lord Mandelson has claimed.
EasyJet founder Sir Stelios Haji-Ioannou and Marks & Spencer executive chairman were among the 23 business leaders to sign a letter backing the Tory promise to reverse the government's planned 1% NI increase for anyone earning less than £45,400 a year.
David Cameron called the letter, which said the Labour action would "endanger" the economy and be a "tax on jobs", a "significant" moment in the election campaign.
But the business secretary today lashed out at the Tories saying the gathering of business support involved a "cynical deception" because it could not be achieving without raising VAT.
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