Impact on Businesses

Although the fourth annual report on the impact of the Congestion Charge issued by TfL states that businesses are advantaged by the charge many would disagree.

In 2004 a study by the Centre for Transport Studies at Imperial College in London [4] was conducted for the impact of the congestion charge on the retail sector.

In the study it reported that an early survey by the London Chamber of Commerce and Industry found that over 75% of traders reported that there was a reduction on their yearly takings. Most of the traders blamed the congestion charge for the reductions.

The study researched shopping activities at John Lewis stores inside and outside the charging zones. The research conducted was very thorough and included a massive amount of surveying, analysis and mathematical co-efficient formulas. The main point picked out by the study was that they were 96% sure that the drop in sales attributable to the congestion charge was 8.21%.

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References:

[4]: The Impact of the Congestion Charge on the Retail Sector
Professor Michael G H Bell et Al
Centre for Transport Studies
(Pages 2-7)
http://www.london.gov.uk/mayor/economic_unit/docs/impact_of_congestion_charge_on_retail.rtf