Phillip Hammond is exploring a £300m tax-cut rescue operation to help shops in Britain’s most deprived town centres.
The Chancellor is “actively considering” the move amid rising pressure from domestic firms. It could be introduced from April, and would instantly reduce bills for the next two years.
With tens of thousands of jobs being lost to the rise of online shipping, the ministerial-level plan is part of a package of measures that could include a tax on digital firms.
Domestic companies have been demanding greater transparency from global corporations operating in the UK for some time, over claims they use complex company structures to reduce tax bills.