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Mayor of London unveils first-ever London Markets Board

Mayor of London unveils first-ever London Markets Board

The Mayor of London, Sadiq Khan, has announced a bold package of measures to help protect and grow London’s vibrant street markets.

Sadiq has created the capital’s first-ever London Markets Board, a team of industry experts and experienced business leaders who have been tasked with ensuring that markets continue to flourish, support growth in high streets and town centres, and remain vibrant attractions for all Londoners and visitors to the capital.

The board will advise the Mayor on the delivery of a London markets strategy, and on action to support and promote the capital’s wholesale, street and covered markets.

The Mayor also published a new report – ‘Understanding London’s Markets’ – examining the social and economic value of markets in London. The report makes 12 key recommendations on making markets work effectively, supporting local people, driving prosperity and improving the local areas in which they are based.

The recommendations in ‘Understanding London’s Markets’ are:

  1. Set an action plan for a London markets strategy
  2. Identify how local authority market operators can maximise social value and work positively within the existing legislation
  3. Lobby for a full review of the current markets legislation
  4. Define different types of markets
  5. Help markets evidence the diverse social benefit they provide
  6. Encourage innovation in markets
  7. Support diversity across the markets sector
  8. Strengthen opportunities to access healthy food
  9. Lower barriers to entry for traders
  10. Make markets places to build careers
  11. Maximise markets as valued places for communities
  12. Promote a practical design approach to markets

As part of the report, the first-ever interactive online map capturing London’s markets has been created (http://maps.london.gov.uk/street-markets). The map allows people to search for local markets and filter by functions such as market type and opening times. The map also includes a feature to allow users to submit information on markets to keep it updated over time.

London’s markets are a key part of the capital’s international identity. In 2010 there were 162 markets – today there are 280. Street markets contribute almost £250 million to London’s economy each year and retail markets account for 13,250 jobs.

The Mayor is committed to doing all that he can to ensure they continue to thrive and remain a vital part of life in London, bringing diverse social, cultural and economic benefits that will help to deliver his vision of a City for All Londoners.

The Mayor of London, Sadiq Khan, said: “From the smallest groups of traders serving their neighbourhoods for generations, to those which attract millions of people each year from across London and around the world, London’s markets are a crucial part of our economy and our communities.

“The number of markets in London has risen in recent years but we mustn’t rest on our laurels – this is an area which has the potential to grow and grow, and I’m determined to do all I can to help our markets thrive.”

The London Markets Board met for the first time today at Borough Market, where co-chair Jules Pipe, Deputy Mayor for Planning, Regeneration and Skills, announced that London will host the 10th International Public Markets Conference in June 2019, in partnership with Project for Public Spaces (PPS).

The conference is held in a different city every three years and brings together international representatives from the markets sector to explore the changing forces that are shaping public markets around the world.

Deputy Mayor for Planning, Regeneration and Skills, Jules Pipe, said: “The Mayor and I want Londoners and visitors to support markets across the city, not just the ones closest to home or where they’re staying while in the capital. That’s why we’ve launched this interactive map of London’s markets to open up the huge range of traders and businesses on offer.

“Markets have been an important part of London life for centuries and we’re committed to helping this continue long into the future.”

Helen Evans, co-chair of the London Markets Board, said: “Whether they ARE public or private, retail or wholesale, London’s markets contribute economically and socially to the wellbeing of the capital. But they also face challenges.

“That is why this new London Markets Board is so important. Its creation not only recognises the value of markets, often overlooked, it also faces up to the challenges and will recommend solutions. I am delighted to be a member of this new Board and look forward to working with my colleagues to make sure London’s markets continue to bring diversity and vibrancy to our capital.”

Debbie Carpenter, market development manager at London Borough of Camden and London Markets Board member, said: “I feel privileged to be part of the Mayor of London’s first London Market Board. I look forward to working through the challenges ahead with other Board members to ensure London’s markets have a voice in their future so they are able to grow and prosper attracting increased visitor numbers, creating new employment opportunities and continue serving their local communities.”

Darren Henaghan, Managing Director of Borough Market said: “Markets have played a vital role in London’s social and economic life for centuries, and they continue to be hugely important to the fabric of the city. Right now, London is home to some of the most vibrant street markets in the world, but we can all do more to benefit the diverse communities that we serve. Thankfully, the communal nature of markets means that collaboration is something that comes naturally to us.

“At Borough Market, we are always happy to share our values, knowledge and understanding with others, while seeking every possible opportunity to listen and learn. We hope that the London Markets Board will offer a platform for us to contribute to the preservation and sustained success of these markets, upon which so many people depend.”

Executive Vice President of Project for Public Spaces, Steve Davies, said: “We are excited to be hosting our next international conference in London. The economic and social power of markets is often underestimated. The number and diversity of markets in the city, along with the Mayor’s recent policy initiatives, make London a perfect place to showcase the opportunities for creating a true ‘market city’.”

While at Borough Market, Jules Pipe and the board members met traders who have received a share of £235,000 through the Mayor’s Business Continuity Fund, set up to support businesses affected by the terrorist attacks in Westminster Bridge, Finsbury Park and London Bridge, as well as the Grenfell Tower fire.

Nadia Stokes, from Gourmet Goat, said: “As a small-scale producer working with independent suppliers and fresh produce the very humbling generosity of the donations to the trader support was hugely important. We, like many, faced severe financial difficulty, loss of stock and total depletion of our savings so that we could cover our significant losses.

“The extra financial support has alleviated an incredible amount of ongoing stress because we can now allocate money for all the stock we lost, honouring our agreements with our suppliers and loss of earnings. As well as financial support, the continued fundraising efforts gave real meaning to London stands together.”

Paul Day, who runs Sussex Fish, said: “The money I received through the Business Continuity Fund allowed me to keep trading. As a fishmonger with a high-value product that has a short shelf life, I rely on daily business to get by, so am thankful that the response from the Traders Support Fund, the Mayor and Borough Market was so quick – we have all felt supported throughout the process.”

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