The CBI has called for a one-year business rates holiday for firms moving into empty property, as part of a series of measures designed to rejuvenate the high street.

In a report jointly published today by the CBI and the EC Harris, the organisations call for councils to engage with the private sector and establish regeneration plans.

The report also calls for LEPs to be given a stronger role in ensuring new homes are built to meet local needs and an alignment of national and local infrastructure plans.

‘To kickstart private sector investment we need to see more creative use of public sector balance sheets and surplus land and property being put to good use,' said CBI chief policy director, Katja Hall.

‘All of this will need to be co-ordinated by a strong visionary leader – whether that's a council chief executive, Local Enterprise Partnership chief or a directly-elected mayor.'

The UK regional leader of EC Harris, Tim Neal, added: ‘The need for clear civic leadership that fosters a sense of ambition for a place and its people; and clearly articulates the local competitive advantage, has never been greater.'