New West End Company reveals new roadmap calling for Government to ‘unlock growth’

New West End Company, the organisation that represents 800 businesses centred around London’s Oxford Street, Regent Street, Bond Street and Mayfair, has published a “new roadmap for success”.

Calling on the Government to “unlock West End growth for the nation”, ‘Open for Growth: Powering the West End for the Nation’ sets out policy ambitions to fuel a decade of growth for London’s West End.

Currently contributing 3% of the UK’s total economic output, including £17bn in tax and 8% of all UK business rates, the success of the West End “directly impacts high streets, jobs and livelihoods across the UK”.

However, New West End Company’s recent Global Benchmarking Report ‘Unlocking the London Advantage’ rates London in last place for policy competitiveness against 12 other international cities, demonstrating the need for change.

Addressing bloated business rates, aiding tourism by reinstating tax-free shopping and focusing on safety in the West End are described as “key to unlocking further growth and supporting people in every postcode”.

Dee Corsi, Chief Executive of New West End Company, commented: “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.”

Commenting on the plan, Adam Hawksbee, External Affairs Director at M&S, said: “For our stores to thrive, we need a tax system that supports growth and a West End that is safe, clean and welcoming to visitors from the UK and around the world.

“New West End Company gives local businesses a strong voice, helping create the conditions for investment and safeguarding the district’s status as a world-leading destination for retail, leisure, hospitality and business.”

New West End Company’s Global Benchmark Report identified that UK property taxes now account for roughly 7% of occupancy costs, against a global average of around 3%, which it says “actively deters international investment”.

Recent changes to business rates in April 2026 have brought many West End businesses within the highest multiplier, with their combined annual liability rising from £212 million to £274 million, an average increase of around £183,000 per property.

Adding further cost pressures are larger employer national insurance contributions, above inflation increases in the national living wage, and new obligations arriving through the Employment Rights Act. Such cumulative cost increases drive business investment out of London to cities with fewer policy constraints like Dubai, Tokyo and Singapore.

New West End Company supports a series of reforms to provide relief for retail, hospitality and leisure businesses in high footfall international districts like the West End, recognising the disproportion contribution they made to the UK economy, as well as their ‘halo effect’ in supporting smaller businesses in their immediate vicinity.

The key asks from New West End Company, include:

• No further increase in the higher multiplier, transitional relief for businesses entering the higher bracket, and a published impact assessment of the multiplier on jobs and investment in the locations most affected.
• A move from slab-based to slice-based multipliers, so liability rises progressively rather than at “cliff edges”.
• A longer-term approach to business rate reviews, extending the current three-year cycle so that businesses can forecast for costs within their typical 10-20 year investment plans.

The West End “pulls above its weight in London’s tourism economy” as the first-choice destination for millions of international tourists seeking world class retail, leisure and entertainment. As such, 2025 saw international visitors to the West End grow by 11.8%, demonstrating the district’s growing appeal.

New West End Company’s Global Benchmark Report, which was published in June 2026, revealed London is the most consistently competitive global city compared to 12 other international cities, ranking in the top five for culture, innovation, tourism and long-term economic potential.

However, London also ranked in last place for policy competitiveness, is the third most expensive city for a three-night break, has the highest public transport costs and is one of only four cities without a shopping incentive scheme.

Additional New West End Company policy asks include:

• An Overnight Visitor Levy that it is proportionate, in line with global standards, and reinvested back into the areas where it's generated.
• Alongside calls to reinstate instate tax-free shopping for international shoppers, New West End Company is exploring an alternative scheme to encourage spend across retail, hospitality and leisure right across the country.
• Support for members calling for an extension of Sunday trading hours within the West End.