Plans to ban traffic from part of London’s Oxford Street have been announced by Sadiq Khan.

The Labour mayor of London’s proposal is part of a wider regeneration project which is supported by the Government, with Deputy Prime Minister Angela Rayner claiming it will give the popular shopping district “the boost it needs”.

The scheme is aimed at boosting the experience of shoppers, residents, workers and tourists.

Oxford Street is one of the world’s busiest shopping areas, with around half a million visitors each day.

Mr Khan wants to pedestrianise a 0.7-mile stretch between Oxford Circus and Marble Arch, with the potential for further changes towards Tottenham Court Road.

A previous attempt by Mr Khan to ban traffic from the road was blocked by then-Conservative run Westminster City Council in 2018.

Urgent action is needed to give the nation’s most famous high street a new lease of life

Mr Khan said: “Oxford Street was once the jewel in the crown of Britain’s retail sector, but there’s no doubt that it has suffered hugely over the last decade.

“Urgent action is needed to give the nation’s most famous high street a new lease of life.

“I am excited to be working with the new Government, and local retailers and businesses, on these plans that will help to restore this famous part of the capital to its former glory, while creating new jobs and economic prosperity for the capital and the country.

“I want Oxford Street to once again become the leading retail destination in the world.

“The transformation of Oxford Street will be a leading example of how working together – City Hall and the new Government – we can build a better London for everyone.”

Ms Rayner said: “Oxford Street is a world-renowned shopping destination and we want it to stay that way.

“By working with the mayor and local leaders, we can ensure it gets the boost it needs.

“This plan to revitalise Oxford Street will drive growth by creating new jobs, generating economic activity, and giving a much-needed boost to London’s night-time economy.”

Mr Khan’s latest proposal depends on him obtaining permission from Ms Rayner in her role as Secretary of State for Housing, Communities and Local Government to establish a new Mayoral Development Corporation, which would provide planning powers.

The council intends to work constructively with the mayor and the Government to ensure the best outcomes for local communities, businesses and London

This request can only be made following a statutory period of consultation and consideration by the London Assembly.

The project is expected to cost around £150 million, with City Hall officials hoping it could be paid for by a combination of local businesses, new revenue streams and private funders.

Restrictions already in place mean between 7am and 7pm vehicular access to parts of Oxford Street is limited to taxis and buses, except on Sundays.

Westminster City Council chief executive Stuart Love said over the last two years the authority has worked with businesses and residents groups to develop a “shovel ready” plan to improve Oxford Street without pedestrianisation.

He said: “The latest pedestrianisation proposal from the mayor of London was only shared with us last Thursday.

“It will be important to receive further details about what is planned, including how long it could take to be delivered and how the concerns of local residents and users of the street will be addressed.

“We will want to know how they will benefit from any proposals, particularly given the practical challenges pedestrianisation may have for the wider area.”

He added: “The council intends to work constructively with the mayor and the Government to ensure the best outcomes for local communities, businesses and London.”