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Excitement has flooded the streets of Croydon today after a new Banksy appeared on a street corner overnight.

Crowds have been gathering on the corner of Church Street and Frith Road to check out the new installation inside an old carpet shop.

It is called Gross Domestic Product and features the Union Jack stab vest worn by Croydon's own Stormzy at this year's Glastonbury Festival.

Other parts of the artwork include what looks like traditional children's toys which are refugees.

Graffiti artist Banksy says he has been forced to open his own homeware store following a legal dispute involving a greeting cards company.

The new store will sell a range of "impractical and offensive" merchandise created by the artist.

In a statement, Banksy said the motivation behind the venture is "possibly the least poetic reason to ever make some art".

He said: "A greetings cards company is contesting the trademark I hold to my art, and attempting to take custody of my name so they can sell their fake Banksy merchandise legally.

"I think they're banking on the idea I won't show up in court to defend myself."

Here are the first pictures from inside the