|Congestion Charge Blamed for Fall in Business|
23 April 2003
The Financial Times reports today on early findings from a survey of over 400 businesses in London which suggests the congestion charge has been largely responsible for a 10-15 per cent fall in takings among the retail and service sectors.
The survey was conducted by the London Chamber of Commerce with businesses within the £5-per-day charging zone, including hotels, taxi firms and security companies.
Around 60 per cent of businesses blamed the congestion charge for their decline in profits, with fewer than two per cent not attributing any of their loss to the charge, it is reported. However a number of other possible factors are mentioned, such as the closure of the Central Line and a perceived increase in the risk of terrorism. The London Chamber of Commerce acknowledged that it surveyed businesses likely to be affected by the charge, although, the article states, "this was in order to get a full picture of its impact."
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