A Labour government will look to introduce a new "gold standard" qualification for headteachers, as part of reforms to enhance the skill-set of school leaders.

In a speech at The City Academy in Hackney, London, shadow education secretary Tristram Hunt said that headteachers would receive lessons from businesses to better help them manage big budgets.

They would also benefit from training that will boost their leadership skills, ensuring that they can deliver exceptional results, raise standards and inspire their staff.

"Business leaders, headteachers and government all have a part to play in delivering the best education for every child, in every classroom, in every school," he said.

"By working together we can ensure all schools, all children and all businesses benefit from the top quality leadership needed for headteachers to manage effectively."

Mr Hunt said that Labour is working with the Confederation of British Industry and Business in the Community to develop an authoritative approach to delivering "skilled and valued headteachers".

He continued by saying that although there are many excellent headteachers, the current government has been responsible for dwindling standards.

Mr Hunt added: "The lack of support for headteachers is a major reason why Ofsted has found thousands of schools are now facing a crisis in leadership."

Stephen Howard, chief executive of Business in the Community, said that one of the best ways in which businesses can contribute towards a fairer society is developing a long-term school partnership.

"By ensuring that all schools have access to a range of business support we can break the cycle where only one in eight children from low-income homes go on to achieve a high-income as an adult," he concluded.

Russell Hobby, general secretary of the National Association of Headteachers, said that if a real investment to upskilling headteachers is made, then leaders will be able to meet any challenge head on.

"We are excited about the idea of a profession-led leadership institute to oversee this and welcome genuine partnerships with business," he continued. "Good leaders help teachers perform to their full potential and, ultimately, raise standards for students."