Left: Laura Citron, chief executive of London & Partners; London mayor Sadiq Khan; Howard Dawber, deputy mayor of London for Business; and Laetitia Dupont, owner of Let’s Jam jewellers

A new £8.7million support scheme for small businesses will regenerate Camden High Street and Camden Market, London’s mayor pledged this week. Sadiq Khan was in the Stables Market on Tuesday to launch his scheme.

A team of 24 advisers is being hired to run the a service that will give out free planning, sales and marketing guidance to independent businesses.

He told the New Journal: “I lived for three years just up the road in Tufnell Park and I spent many weekends here at Camden Market and also many evenings in this part of London. And since I was living here it had become tired.

“So what’s great is the council working closely with us, but also with the market owners to really regenerate the market, but also regenerate the high street as well. The announcement today with Grow London Local is about supporting small businesses to grow to develop into their prime.”

Camden Market has been transformed in recent years with big-budget “experiences”, including the now-closed Tomb Raider Live Experience. The old-style ramshackle market – part of the fabric of Camden Town – has been replaced by a more clean-cut environment.

Meanwhile, chains are dominating Camden High Street. Standing outside Stables Market craft jewellers Let’s Jam, Mr Khan said small businesses were the “the backbone of London’s economy”.

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Mr Khan stressed the impact London’s housing crisis has on people’s disposable income. Talking about what needed to be done to fix the cost of living crisis, the Mayor told the New Journal: “There’s a cost-of-living crisis, which is compounded by things like housing so it’s really important that we build the genuine affordable homes that Londoners need and can afford to live in, rather than luxury penthouse flats that are bought by foreigners as investment.

“In the short to medium term, while we’re building more council homes, we should be fixing the private rental market. “We should be freezing rents like they’ve done in Scotland, and bringing in rent controls because the reality is many young Londoners are priced out of London.”

Labour is going into the mayoral and general elections with a pledge to keep the Right to Buy policy and the party’s “Renters’ Charter” does not include rent controls.