DOWNING Street is planning a major shake-up of the way it deals with the business community, with officials planning to scrap the system created by Theresa May, it was reported yesterday.

Officials are poised to axe the five business councils set up by the former Prime Minister around business lines, including one for financial and professional services.

In its place, Boris Johnson and his team are expected to create a single new committee of business advisers, according to Sky News.

Johnson held one meeting last October with the council co-chairs — including the technology entrepreneur Brent Hoberman, Tesco chief executive Dave Lewis and Sir Ian Davis, the Rolls Royce Holdings chairman. However, there have been no meetings since December's election.

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