High Streets are the centre of our communities and the heart of local and national economic growth. That is why the Government has invested in rejuvenating and regenerating high streets across the UK. However, despite Oxford Street being Britain’s high street, current UK-wide regulations limit the opening hours of stores of over 250 m sq. on Sundays. This is putting the areas such as Knightsbridge and the West End in London at a disadvantage compared to competitors such as Madrid or Milan, which face few or no restrictions.
The requirement for our foremost shopping districts to close before the UK’s rivals has a serious impact on both the London and national economy. An open and accessible London is a crucial first stop for international visitors preparing to visit other parts of the country and enables London to act as the shop window to the world for goods produced across the UK.
We know that deregulation abroad has increased turnover by 5% in Sweden, increased total revenue by between 3.9% and 10.7% in the USA and had a positive impact on both turnover and quantity of goods sold in Greece. Likewise at home, a New West End Company study found that Knightsbridge and West End shops opening for just 2 hours longer could generate around £260m in extra revenue and over 2,600 jobs.
Alongside our partners at New West End Company and Association of International Retail, we recommend that the Government should examine the benefits of reducing restrictions on Sunday opening hours for stores within London’s two International Centres, Knightsbridge, and the West End. By adding Knightsbridge and the West End to the list of exemptions to the 1994 Sunday Trading Act, the Government will level the playing field with Continental Europe. This move is not intended to undermine Sunday trading regulations throughout the rest of England, but to maximise wallet share of the international visitors who can contribute most to the UK’s economic recovery from the pandemic, and to show to the world that Britain is open for business.
