Labour has pledged to reverse the Government's final cut in corporation tax to pay for a reduction in rates for small businesses.
Shadow Chancellor Ed Balls has also promised smaller firms they will be the first to benefit from future tax cuts if Labour takes power in the General Election.
Mr Balls said that reversing the corporation tax cut would allow Labour to slash business rates on 1.5 million small business premises.
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Labour argues that 17 small firms would benefit from the cut for every large business helped by the reduction in corporation tax.
The party claims the coalition spent £7bn over the last parliament cutting the main rate of corporation tax to the benefit of larger firms, while revenues from business rates rose by £3bn.
Speaking as he visited a small business, Mr Balls said: "Unleashing the potential of smaller businesses to grow, create more good jobs and raise living standards is a vital part of Labour's better plan.
"This is part of our plan to deliver a simpler and fairer tax system for small businesses. This is the right priority when money is tight.
"And it will mean that the tax burden on small businesses will be lower with Labour than under the Tories."
The announcement comes a day after the launch of Ed Miliband's business manifesto was overshadowed by a row over Labour's use of business leaders' quotes in an advert for the party's stance on the EU.
Mr Miliband faced a backlash over the advertisement in the Financial Times, published as Mr Miliband warned voters that leaving the European Union was a "clear and present danger" to British business.
The Conservatives have argued that abandoning the cut in corporation tax would jeopardise economic security.
Treasury Minister David Gauke said: "This would be the first time corporation tax has risen in over 40 years and Labour's plans could cost 96,400 jobs - it would put people's economic security at risk.
"The Conservative Party is helping businesses small and large as part of our long-term economic plan - we don't divide them up for the sake of making a political point."
David Cameron said reversing the corporation tax cut was a "crazy thing to do when the economy is growing".
The Conservative leader today pledged a Conservative government will help business create two million new jobs over the course of the next parliament.
Nick Clegg was speaking earlier to promised an additional £3.5bn over the next parliament, with the aim of "revolutionising" adult and child mental health care.
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