London’s recovery “hinges on high streets”

The Mayor’s recovery mission could “hinge on high streets” and a London High Streets Board should be put together to enhance and drill down plans for London’s reopening, according to a new report from the London Assembly Economy Committee.

The London Assembly has put forward five key solutions to support high street recovery:

1. Establish a London High Streets Board to analyse threats like COVID-19 and be consulted on building economic recovery. The Board will need a range of business sectors of all shapes and sizes and community representatives to deliver the right solutions for the capital.
2. The Board should have a strategy for tackling vacant premises and advocating on behalf of businesses on permitted development rights to make sure high streets are not damaged by gyms, shops, banks and more being turned into residential properties without going through the planning system.
3. The Board should prioritise lobbying on business rates to ensure that reforms deliver for London businesses, and should ask Government to level the tax playing field between online and in-person companies.
4. The Board should prioritise Business Improvement Districts, asking for increased financial support with a specific fund from the Government.
5. The Board should balance online and offline retail to revitalise high streets by working with the Mayor to develop a long-term strategy to drive footfall, help businesses take advantage of new technology, support low-waste stores like refill shops, and be prepared for new consumer behaviours.

Download High hopes: Supporting London's high streets in the economic recovery