“So we are working with the government so we can have more powers over licensing and so forth.
“I think hospitality, retail are really important sectors of our economy, but also, (they are) one of the reasons people love to come to London.”
Oxford Street is one of the world’s busiest shopping areas, with around half a million visitors each day.
A previous attempt by Sir Sadiq to pedestrianise part of Oxford Street was blocked by the then-Conservative-run Westminster City Council in 2018.
His latest proposals depend on obtaining permission from the government to establish a new Mayoral Development Corporation, which would provide planning powers.
The aim is for this to be created by the start of next year.