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Boxing Day tube strike a blow for London retailers

Published: 20 December 2010
As Underground staff threaten to strike on Boxing Day, fears grow that it will damage a crucial part of the capital's economy at its most important time of year.
Boxing Day tube strike a blow for London retailers
In recent years, Boxing Day has grown in importance for retailers, with more stores than ever now launching their post-Christmas sales on December 26. With the VAT hike due in January and tough times predicted for 2011, many retailers were hoping a successful Boxing Day would make a major contribution to a final big week before January gloom sets in.

The proposed Boxing Day strike, if allowed to go ahead, could be a massive hit for London retailers and potentially the economy as a whole. According to the British Retail Consortium, nearly a fifth of all the UK's retail spending takes place in London, generating a turnover of £54 billion last year. The organisation added that retailing in the capital provides jobs for 380,000 people.

BRC director general Stephen Robertson said of the strike: "This could be a major blow for London's retailers and their customers on what's now one of their most important days of the year. 380,000 jobs directly depend on a successful retailing sector in the capital."

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