Emma McClarkin, CEO of the BBPA, said: “We’ve long called for measures to help growth, and we’re raising a glass to the Chancellor’s commitment to unlock the UK’s potential.

“However, the punishing cost of doing business prevents our beloved sector from investing and growing and we face even greater challenges come the cliff edge on April 1 when even more debilitating costs and tax increases kick in.

“In one year we poured more than £34 billion into the economy and supported more than one million jobs, so it’s clear we can help the UK prosper.

“We urge the Chancellor to quickly and meaningfully reform business rates and phase in new employment costs so we can help the economy fly and employ even more people.”