Jeremy Hunt has defended the latest figures, which show retails suffering an early drop in business as visitors stay away from central London during the Olympics.
The Culture Secretary told Daybreak: "It may be a bit up and down over the next few weeks, but in the years that follows, it's going to be terrific for London businesses.
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First Minister Nicola Sturgeon is seeking to make a statement later today on 'the way forward for Scotland after the General Election'.
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The world's first ever 'hole in the wall' was installed in Enfield, north London, on June 27 1967.