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00:27This is a momentous day for Oxford Street, but also for London.
00:32Look, it's really important that we support our fantastic retail.
00:35It's really important that we recognise the challenges they face.
00:38Not just decades of decline, but also the competition from online shopping,
00:42from out-of-town centre shopping malls.
00:44I want to be supporting our shops in Oxford Street.
00:47And having a kilometre worth of this street, almost half of this street,
00:50traffic-free forever, means more space, it's safer.
00:54And it involves Christmas, you know, I want people to come here and shop and enjoy the
00:59experience.
01:00Listen, London doesn't want to be as good as a place in the world who will be better.
01:04I don't apologise for that at all.
01:06But when I see other cities, how they've managed to keep retail going,
01:10there's stuff we can learn from them.
01:11Stuff to avoid doing what they've done, stuff to learn what they've done.
01:14So you look at, for example, other parts of the world where it's Copenhagen,
01:17whether it's Barcelona, whether it's Paris, whether it's New York.
01:20They've tried things, some have worked, some haven't worked.
01:23So we've spoken to colleges in those respective cities,
01:26recognising, though, that retail now is really challenging
01:29because shops are competing with those shopping online,
01:32shops are competing with those, you know, in covered shopping malls.
01:36We've got a choice.
01:37We either allow the status quo to carry on and a further decline,
01:41or we support street slugs for street.
01:42with other strangen рабs,
01:43and we have to prepare these cities.
01:43and there are just 2 places around the street.
01:43here is in the region of United States.
01:43Grazie a tutti.