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News - 8 August 2003
Congestion charging is not good for retail
According to a new report from Ken Livingstone's office congestion charging has had a negative effect on retail trade. This is an important revelation as it has important implication for other cities such a Brighton & Hove that might be considering similar traffic controlling options.
The report from the London Mayor's office indicates that up to 30,000 shoppers are deterred from entering the charge zone. The cost of this loss of business to the retail trade is estimated to be in the region of £1 million a month or £12 million a year.
However, the study points out that this is small beer compared with the losses suffered by the closure of underground lines or the current fall in tourist numbers. For example businesses in London have been losing £125 million a month since the war in Iraq.
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