So many are still arguing that the changes to business rates, due to take effect next month, should be softened or even suspended.

Yes, there will be losers. However, there will also be winners and reductions in rates may revitalise high streets in currently less vibrant areas of the British economy.

But the bigger issue here is that business rates reflect an old tax world; one focused on physical presence, bricks and mortar, not the way many business generating substantial GDP are organised today.

What the UK needs is a tax regime fit for this generation and the future, not one that harks back to the 19th century.