Some 120 business leaders have signed an open letter backing Labour and calling for an "urgent new outlook" on the economy.
But Work and Pensions Secretary Mel Stride pointed out there were no names of FTSE 100 leaders among the signatories.
Mr Stride also insisted it was "not at all embarrassing" that the founder of Koru Kids – which was once invested in by the prime minister’s wife – had signed the letter.
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