London, London Mayor Sadiq Khan on Tuesday unveiled proposals to transform Oxford Street by turning the city's world-famous shopping center into a traffic-free pedestrian avenue.
The plans, backed by the new Labor Party government, aim to rejuvenate Oxford Street to boost the UK capital's economic prosperity and regain its status as the "world's leading retail destination".
"Oxford Street is a world-renowned shopping destination and we want to keep it that way. Working with the Mayor and local leaders, we can ensure it gets the boost it needs," said UK Deputy Prime Minister Angela Rayner.
“This plan to revitalize Oxford Street will drive growth by creating new jobs, generating economic activity and giving a much-needed boost to London’s night-time economy,” she said.
Khan, a member of the Labor Party, also previously attempted to implement changes on Oxford Street, but claims to have been blocked by the then Conservative Party administration.
“Oxford Street was once the jewel in the crown of the British retail sector, but there is no doubt that it has suffered enormously over the last decade. Urgent action is needed to breathe new life into the country's most famous high street,” Khan said.
"I am excited to be working with the new Government and with local retailers and businesses on these plans, which will help restore this famous part of the capital to its former glory, while creating new jobs and economic prosperity for the capital and the “I want Oxford Street to once again become the world’s leading retail destination,” he said.
According to the Mayor's Office, Oxford Street attracts more than 500,000 visitors daily and generates approximately five per cent of the capital's economic output, the equivalent of £22.75 billion in 2019. It is home to numerous iconic stores, including Selfridges and John Lewis, as well as being a key shopping centre.
"While Oxford Street remains a vital part of the UK's tourism, leisure and retail offering, generating revenue for the exchequer that is reinvested across the country, it is in need of major regeneration. Competition from online retailers and shopping centers From out of town, the closure of iconic department stores and the prevalence of 'sweet shops' have put significant pressure on Oxford Street's appeal, while tourism figures have not fully recovered since the pandemic," says an official statement from the Mayor's Office.
"The Mayor is determined to reinvent and transform Oxford Street, working with businesses and Westminster City Council to create one of the best public spaces in the world and make the area substantially greener, cleaner and safer for all," he added.
The mayor's proposals claim to be designed to offer a "vastly improved" experience for shoppers, residents, workers and tourists visiting Oxford Street and the surrounding area.
With the support of government ministers, the mayor's office confirmed that Khan intends to designate a Mayoral Development Area to bring forward the regeneration of Oxford Street. As part of this, the Mayor proposes that a Mayoral Development Corporation (MDC) be established, which will have planning powers to provide the framework for the delivery of a world-leading plan that works for residents, visitors and businesses in the London's West End.
"The West End, a key driver of the UK economy, generates 3 per cent of the country's economic output and is vital to our city's retail, leisure and hospitality sectors. Oxford Street MDC represents a huge leap to unlock its full potential. This revitalization will not only improve Oxford Street, but will also bring economic benefits to all Londoners and the wider UK economy," said Dee Corsi, CEO of New West End Company.
The mayor believes his proposals would turn Oxford Street into a modern, more attractive and prosperous shopping and leisure destination, attracting more tourists and increasing footfall and spending.
"This is likely to generate additional economic activity and higher tax revenue, as well as boosting London's night-time economy, meaning it can once again compete with other international destinations, such as Times Square in New York, the Avenue des Champs-Élysées of Paris and Las Ramblas of Barcelona,” added the Mayor's Office.
The plans, backed by the new Labor Party government, aim to rejuvenate Oxford Street to boost the UK capital's economic prosperity and regain its status as the "world's leading retail destination".
"Oxford Street is a world-renowned shopping destination and we want to keep it that way. Working with the Mayor and local leaders, we can ensure it gets the boost it needs," said UK Deputy Prime Minister Angela Rayner.
“This plan to revitalize Oxford Street will drive growth by creating new jobs, generating economic activity and giving a much-needed boost to London’s night-time economy,” she said.
Khan, a member of the Labor Party, also previously attempted to implement changes on Oxford Street, but claims to have been blocked by the then Conservative Party administration.
“Oxford Street was once the jewel in the crown of the British retail sector, but there is no doubt that it has suffered enormously over the last decade. Urgent action is needed to breathe new life into the country's most famous high street,” Khan said.
"I am excited to be working with the new Government and with local retailers and businesses on these plans, which will help restore this famous part of the capital to its former glory, while creating new jobs and economic prosperity for the capital and the “I want Oxford Street to once again become the world’s leading retail destination,” he said.
According to the Mayor's Office, Oxford Street attracts more than 500,000 visitors daily and generates approximately five per cent of the capital's economic output, the equivalent of £22.75 billion in 2019. It is home to numerous iconic stores, including Selfridges and John Lewis, as well as being a key shopping centre.
"While Oxford Street remains a vital part of the UK's tourism, leisure and retail offering, generating revenue for the exchequer that is reinvested across the country, it is in need of major regeneration. Competition from online retailers and shopping centers From out of town, the closure of iconic department stores and the prevalence of 'sweet shops' have put significant pressure on Oxford Street's appeal, while tourism figures have not fully recovered since the pandemic," says an official statement from the Mayor's Office.
"The Mayor is determined to reinvent and transform Oxford Street, working with businesses and Westminster City Council to create one of the best public spaces in the world and make the area substantially greener, cleaner and safer for all," he added.
The mayor's proposals claim to be designed to offer a "vastly improved" experience for shoppers, residents, workers and tourists visiting Oxford Street and the surrounding area.
With the support of government ministers, the mayor's office confirmed that Khan intends to designate a Mayoral Development Area to bring forward the regeneration of Oxford Street. As part of this, the Mayor proposes that a Mayoral Development Corporation (MDC) be established, which will have planning powers to provide the framework for the delivery of a world-leading plan that works for residents, visitors and businesses in the London's West End.
"The West End, a key driver of the UK economy, generates 3 per cent of the country's economic output and is vital to our city's retail, leisure and hospitality sectors. Oxford Street MDC represents a huge leap to unlock its full potential. This revitalization will not only improve Oxford Street, but will also bring economic benefits to all Londoners and the wider UK economy," said Dee Corsi, CEO of New West End Company.
The mayor believes his proposals would turn Oxford Street into a modern, more attractive and prosperous shopping and leisure destination, attracting more tourists and increasing footfall and spending.
"This is likely to generate additional economic activity and higher tax revenue, as well as boosting London's night-time economy, meaning it can once again compete with other international destinations, such as Times Square in New York, the Avenue des Champs-Élysées of Paris and Las Ramblas of Barcelona,” added the Mayor's Office.
