The controversial guidelines, which stipulated that skyscrapers should only be built in tight clusters, have been blamed for holding back high-rise development in Liverpool and scuppering a number of major schemes in the city.
Among them was Ian Simpson's much-acclaimed Brunswick Quay scheme ( pictured) which fell outside the areas earmarked for super-tall development.
According to local newspaper the Daily Post, the decision to drop the policy was made by the city council's new leader Warren Bradley, who branded the rules 'ridiculous' and contrary to the aims of a 'progressive, proactive city.'
The move has delighted business lobby group Downtown Liverpool in Business (DLIB) which has battled against the policy since it was tentatively introduced in December 2004.
DLIB chief Frank McKenna said: 'This is great news - we really did lead the charge in the campaign against the policy.
'We were also the first to stick our head above the parapet and say it was unworkable.'
He added: 'It appears Bradley is ready and willing to listen to what the developers want. The previous administration certainly was not open to dialogue.'