Tube strike 2017: Walkout 'disaster' could cost London economy £300m

Strike: Commuters queue outside Victoria station
Pippa Crerar9 January 2017

The Tube strike is a “disaster” for London’s economy which could be hit by as much as £300 million, business groups claimed today.

They warned that commuters were at “breaking point” with the retail and hospitality sectors in central London suffering in particular.

Business chiefs insisted London’s economy needed to be strengthened in the run-up to Brexit, rather than weakened by industrial action across the transport network.

The Federation of Small Businesses has estimated the cost of a strike could be as much as £300 million.

Colin Stanbridge, chief executive of London Chamber of Commerce and Industry said: “For so many businesses in central London, including our shops, restaurants and tourist destinations, not having stations in Zone 1 open is a disaster.

“We need to be strengthening London at a time of Brexit uncertainty, not weakening it with multiple strike action.”

He added: “London commuters will be at breaking point.

"For months workers trying to commute to their place of work have endured Southern rail strikes on an already unreliable service - this is only compounded by today’s Tube strike which will inevitably cripple London Underground and no doubt in turn paralyse London roads.

“We call on the unions and the underground to urgently enter into a process of resolution.”

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