The British Retail Consortium (BRC). said it hoped the proposals would stimulate debate on reform that "goes beyond tinkering with the existing system".
Business groups have long argued that the current framework of rates discourages investment and is desperately in need of modernisation.
– Helen Dickinson, BRC director general,
We have a once in a generation chance to fundamentally change the business rates system and the time is right to think creatively and in the best long term economic interests of the UK.
These potential options would be good for the public, the economy and businesses small and large, while still providing significant tax revenues for the Government.
The BRC proposals include: shifting the basis for taxing property by replacing the current system with a tax based on other measures, such as energy usage; and rewarding job creation by offering a discount on the rates bill.