Spitalfields Conservatives are concerned about the lack of regulation, mismanagement and the reduction of standards of Petticoat Lane Market and the surrounding area.
Due to subsidies the food court has an unfair advantage over existing businesses who are suffering as a consequence. Closures have resulted in vacant retail units which bring down the area for local residents.
Waste is not effectively managed in the area. The market, including the food court, creates an unreasonable level of rubbish and food waste as any resident walking along Goulston Street and the surrounding area on Sunday afternoon will know.
For too long Tower Hamlets Council has neglected Petticoat Lane. If the borough is not careful then the reputation of this legendary market will be lost to future generations.
Conservative Councillor Peter Golds tabled a Member’s inquiry discovering that Trading Standards and the City of London Police raided a number of addresses involved in a multi-million pound counterfeiting business using self storage units.
Spitalfields Conservative Matt Smith said: “Local businessmen I speak to are concerned that Petticoat Lane Market has lost out to Broadway Market in Hackney. Trade for local restaurateurs and publicans have fallen as a result. The Council must raise its game in managing the area before a major historical asset is lost to the area”.