In a bid to create a more “mixed” high street, Southwark council has banned new betting shops, payday loans firms and pawnbrokers from opening in its borough.
Southwark council has become the first council to forbid conversions of pubs, shops or small offices into pawnbrokers. Any businesses wanting to convert shops need to make a fresh application to the council.
Councillors claim the move will help residents avoid “debt traps”.
Fiona Colley, Southwark’s cabinet member for regeneration and corporate strategy, told the London Evening Standard, “I hope [the move] will help to stem the flow of the growing number of businesses that prove tempting to those struggling financially but can result in awful debt and further stress.”
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