Topshop boss: London can be style capital of the world

He unveiled a five-point plan he hopes will help to cement the city's future as the foremost style hub.

Sir Philip called on the Government to recognise the contribution British designers make to the economy, an estimated £20.9billion a year.

In his report, with the British Fashion Council, he said Britain must seize its opportunity this year, when the eyes of the world will be on London because of the Olympics and the Queen's Diamond Jubilee.

At the launch of London Fashion Week at Somerset House, he said: "We need to work with young designers to sell their clothes in stores around the world - and we need to produce a better manufacturing side.

"Topshop is renewing its 10-year sponsorship of Newgen [a scheme to help young designers] and will be personally getting behind this. We want to produce two to three people we can take on to the world stage." The report - The Future of Fashion - called on the Government to protect funding for fashion colleges and relax tourist visas, to help London and the UK compete with other international shopping destinations.

It also called for a manufacturing boost, with wider provision of training, including improving fashion students' business acumen. Funding for London Fashion Week must be protected, said the report, and government should "strive to champion British fashion".

Harold Tillman, British Fashion Council chairman, said: "Fashion is a very significant employer of young people and we want to attract more of them, but we need to do more. We need to pull together as an industry to make this happen."

Culture minister Ed Vaizey, also at the launch, said: "I look forward to sitting down and discussing and helping them realise these achievements."

It came as new hope emerged today that the UK economy has turned the corner after surprisingly good retail figures. Retail sales rose 0.9 per cent last month compared with December, according to the Office of National Statistics.