The number of buses has already been cut from around 320 to 270 an hour under pressure from the New West End Company, which represents stores in the area.
But Mr Hendy said this had not improved average traffic speeds along Oxford Street. “It may be that’s all that’s happening is that buses are simply being replaced by taxis, he said.
The New West Company has said that eradicating “busgestion” on Europe’s busiest shopping route is its top priority for the next five years.
It argues that the arrival of Crossrail in 2017 will hugely reduce the need for above ground public transport.
The West End Commission was set up in January when Westminster Coucil was forced to scrap proposals for new parking charges in the evening and at the weekend following a campaign by the Standard.