The retailers have warned the Government that “there won’t be a high street at all” unless they launch a fundamental review of how the tax is calculated.

Speaking in The Times, Shoe Zone boss Anthony Smith has said his business could be forced to shut 100 stores unless urgent changes are made, cranking up the heat on Sunak.

The new Chancellor was only promoted into the role last week to replace Sajid Javid, but has instantly come under the spotlight with the Budget due to be delivered in March.