New West End Company publishes decade of growth manifesto for London’s West End
New West End Company has published a new manifesto for London’s West End that sets out its ambitions to fuel a decade of growth for the shopping district.
Th Business Improvement District’s policy asks include business rates reform, a national, multi-agency taskforce on organised crime, a visitor economy spending incentive and a commitment that any overnight visitor levy will be reinvested in the areas where it is generated.
Subscribe to TRBWith the West End currently contributing 3% of the UK’s total economic output, including £17 billion in tax and 8% of all UK business rates, New West End Company said the success of the West End directly impacts high streets, jobs and livelihoods across the UK.
New West End Company’s recent Global Benchmarking Report ‘Unlocking the London Advantage’ put London in last place for policy competitiveness against 12 other international cities. The organisation said the policy asks on business rates, tourism and safety are key to unlocking further growth in the area.
Dee Corsi, chief executive of New West End Company, said: “The West End is not only an engine for economic growth in London but drives economic output for every part of the UK.
“This collection of 800+ businesses within a 20-minute walking radius makes an overwhelming and disproportionate contribution to the national economy, and together creates a destination enjoyed by millions from London, the UK and abroad.
“The potential for growth and impact is exponential, however relies on a policy framework which supports West End businesses and is globally competitive. Without this, money allocated to London and the UK gets redirected abroad to the likes of Paris, Tokyo, New York and Singapore.
“Our new Open for Growth plan focuses on policy shifts that will create the conditions for businesses to thrive and will unlock London’s advantage.
“Through working closely with local and national government, the Mayor of London, public bodies like the Metropolitan Police, and continuing to listen to businesses across our district, we can create a West End that will drive Britain forward.”
