The British Retail Consortium’s ‘Road to Reform’ report has been welcomed by Burnham MP Tessa Munt.

The report which considers how the regressive business rates system can be made fit for purpose.

Ms Munt said: “While we’ve modernised other taxes, business rates have been left behind and the system is woefully out of date.”

The PM announced small businesses affected by the floods would be granted a deferral on their rates.

Ms Munt added: “I’m hopeful that the Chancellor will be persuaded to go much further and accept that a fundamental shake up is what is needed in order to remove the disincentive to invest in and improve property, promote growth in jobs and output and support our entrepreneurs.”