Representatives from organisations such as the British Retail Consortium, the British Chambers of Commerce and the Association of Convenience stores have written to the new Chancellor Rishi Sunak, urging him to reform business rates at the next budget.

The letter sets out four “simple principles that would ensure that business rates are fairer, more accurate and fit for purpose in the future”.

These include removing the requirement for business rates to be fiscally neutral, simplifying the system to reduce the burden on the Valuation Office Agency, reviewing the Check, Challenge and Appeal system, and removing provisions which “penalise” businesses for modernising stores and premises.