The Deputy Prime Minister and Mayor of London announced plans this week to transform Oxford Street.
The Mayor believes his proposals would turn Oxford Street into a more attractive and thriving modern retail and leisure destination attracting more tourists, increasing footfall and spending.
Offering the Government’s support, the Deputy Prime Minister attended a launch event at John Lewis & Partners on Oxford Street, alongside the Mayor.
The announcement and the launch event attracted widespread national and London media coverage, including; The Guardian, Times, Sun, FT, City AM, Evening Standard and BBC.
Angela Rayner, Deputy Prime Minister said:
“Oxford Street is a world-renowned shopping destination and we want it to stay that way. By working with the Mayor and local leaders, we can ensure it gets the boost it needs."
“This plan to revitalise Oxford Street will drive growth by creating new jobs, generating economic activity, and giving a much-needed boost to London’s night-time economy.”
The Mayor has confirmed that he intends to designate a Mayoral Development Area to bring forward the regeneration of Oxford Street.
As part of this, the Mayor is proposing that a Mayoral Development Corporation is established, which will have planning powers to provide the framework for delivery of the scheme.
The Deputy Prime Minister must make an order establishing a Mayoral Development Corporation on request from the Mayor. This request can only be made following a statutory period of consultation and consideration by the London Assembly.