The prime minister is looking to condense the five committees on the business council networks, party to 70 members, down to a single committee of business advisers.

It is believed that government officials felt that some issues were being covered multiple times by different committees.

A Downing Street spokesperson said: ‘The prime minister and his business team are refreshing how best to engage with businesses to ensure Britain is the number one country in the world to start, grow and run a business.

‘The prime minister remains committed to closely working with industry and future plans will be set out in due course.’

Members of the Business Councils were in post until 31 December 2019. The five business committees were originally introduced by Therersa May in November 2018.

The five committees were separated by industry: financial and professional services, SMEs and entrepreneurs, telecoms and creative industries, infrastructure and manufacturing and industrial and consumer.

Each Council would meet three times a year, twice with the prime minister and once with a senior cabinet minister.

The Councils work on an advisory basis and hold no decision making powers. But they also act as a forum for government to share developing policy ideas and seek the views of members.

Some of the chief executives of which were members of these committees were Deloitte UK, chairwoman of Santander, the chairman of BAE Systems, the London Stock Exchange Group and GSK.

The prime minister has already hosted over 150 businesses since taking office in July.

The most recent meeting held with the council was on October 2019 with the council co-chairs: Brent Hoberman founder of lastminute.com, Rolls Royce Holdings chairman Sir Ian Davis and Tesco chief executive Dave Lewis.

Initiatives which have been introduced as a result of these councils include an immigration visa which enables Non-UK students to work in the UK for two years after graduating and a rail network between Manchester and Leeds.