Southwark Liberal Democrats champion plans to ‘save our high streets’ after shock business closures and job losses

Cllr Rachel Bentley has championed the national Liberal Democrats’ plan to support local high streets, as new analysis reveals the hit delivered to jobs and businesses by Labour’s mismanagement of the economy.  

According to official ONS figures, Southwark saw 995 businesses close their doors in the first half of 2026. This led to an overall reduction in the number of local firms by 35, as the number of business closures overtook the number of new businesses opening.

This comes after Southwark already lost 380 local shops between 2019 and 2024, under the previous Conservative Government.

Cllr Bentley said that these figures are extremely concerning and the Government must take urgent action to implement the Liberal Democrats’ national plan to support local businesses.

It includes an emergency 5% VAT cut on hospitality, accommodation and attractions - boosting local pubs, restaurants and entertainment venues while saving people money on the occasional extra.

The plan also calls for an overhaul of the broken business rates system and abandoning the unfair National Insurance Contribution (NIC) hike.

Cllr Bentley says vibrant high streets are essential for local employment in Southwark as 13,485 local people are looking for a job. The number of young people out of work has also reached 1,935 - an increase of 90, up 5% compared to a year ago.

Crime remains a huge concern across the capital. In London there was a shocking 91,500 shoplifting offences over the last year.

To make our city safer and tackle the scourge of shoplifting on our high streets, the Liberal Democrats also calling for CCTV to be rolled out in every corner shop, and cracking down on illicit vape shops.

Liberal Democrat Executive Member for Inclusive Economy, Equalities and Democracy, Cllr Rachel Bentley, said:

“In Southwark we’ve seen an unacceptable rise in shoplifting and business closures following decades of neglect and mismanagement by consecutive Labour and the Conservatives governments.

“Our high streets are struggling but it’s not too late to save them. The Government must stop dragging its feet and implement the Liberal Democrats’ plan to bring the hustle and bustle back to our town centres, restore the high streets as the heart of our communities and make them a safe place for everyone to enjoy.”