Retail in London’s West End is under serious threat unless investment is increased ahead of the 2012 Olympics, Westminster City Council warned this week.

The council said the imbalance that will arise from the level of investment pouring into the east of the capital while it is being developed for the games will have serious implications for the future of shopping in the West End during and after the Olympics.

Westminster City Council, backed by the New West End Company, said an extra£24 million is needed to improve the West End before 2012. It is calling on the Government to introduce legislation to set aside 1p out of every£1 levied in business rates in Westminster to raise the funds.

Oxford Street would be one of the key retail areas to benefit from the added investment, which would also be used to fund improvements to Leicester Square, Piccadilly Circus and Covent Garden.

A New West End spokesman said: “The help is there from the council, which is good news for us. They’re finally focusing on retail.” He added that it was important that all of London be at its very best during the games. “20,000 people from the media will be in London and they will be broadcasting images all over the world.”

While the majority of the games will take place at the Olympic site in Stratford, Westminster will host a selection of events, including the triathlon in Hyde Park.

Westminster City Council is arguing that the West End needs the extra investment to improve public spaces and shop fronts. The International Olympic Committee will also be based in Westminster.

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