In February 2025, the Mayor of London and London Councils launched London’s Growth Plan, which described itself as “a blueprint for turbocharging productivity in the capital.”
The Plan aims to restore productivity growth to an average of two per cent a year over the next decade, grow London’s economy by £107 billion by 2035, and help create over 150,000 “good” jobs by 2028. Alongside the Plan, the GLA set out an ambition to “Help local high streets thrive” with a £20 million High Streets Fund to “boost” local high streets, tackle empty properties and ensure all London boroughs benefit from economic growth.
On 24 April 2025, the London Assembly Economy, Culture and Skills Committee published its report At a crossroads: London’s high streets – which highlighted the challenges facing London’s high streets and identified opportunities for them to flourish. The report included a number of recommendations related to the Mayor’s 2025-26 High Streets Fund.
In the most recent Growth Plan update, published December 2025, London and Partners confirmed that the £20 million High Streets Fund capital had been allocated to boroughs, alongside an additional £600k revenue funding confirmed for 12 high streets through its High Street Place Labs programme.
