News

The City of London Corporation has agreed to make rental payments more manageable for its smaller business tenants as they deal with the financial strain of the COVID-19 outbreak.

The City of London Corporation’s charitable funder, City Bridge Trust (CBT), has pledged £1 million to a new emergency support fund to help London’s community and voluntary organisations affected by the impact of the COVID-19.

Businesses in the Square Mile are being urged to take advantage of measures announced in the Budget to support them through the COVID-19 pandemic, with the City of London Corporation pledging to support firms struggling as a result of the current outbreak.

Residents and City workers in the Ward of Cheap were due to meeting on Thursday 19th March for the annual ward meeting (Wardmote). However, due to heightened concern regarding the coronavirus (COVID-19), Alderman Robert Hughes-Penney as presiding officer, supported by the team of Common Councillors, has decided to reschedule this event.

A 24/7 assessment hub for rough sleepers in the Square Mile and a new 30-bed hostel have been given the green light. The City of London Corporation’s Court of common Council, the authority’s top decision-making body, backed the £11.4m plans earlier this week. As deputy chairman I am proud to have worked with fellow councillors on the City’s homelessness and rough sleeping Committee to succefuly argue for this investment and new approach.

In March there are a couple of events taking place in the Ward of Cheap starting with our annual reception on Wednesday 4 March, a public consultation on the transformation of the current BT Centre on 4-5 March, and our annual ‘Wardmote’ or meeting of citizens on 19 March.

The proportion of workers in the City of London’s financial services sector born outside the UK jumped to 36% in 2019, up from 32% a year earlier, according to new data from the ONS. Now more than ever it’s essential that the UK remains open to international talent in order to compete on the world stage. As Catherine McGuiness, Policy Chair at the City of London Corporation, said the City will continue to recognise the vital contribution that international workers make to our local economy and community.

For centuries the Goldsmiths’ Company has performed the crucial task of independently checking coins produced by the Royal Mint to ensure they are of the right quality and composition set by law. This week I had the honour to join the jury in the so-called Trial of the Pyx – supported by experts of the London Assay office.

Figures released by the City of London Corporation shows that despite considerable business uncertainty over the last year, the tax contribution made from the UK financial sector has remained broadly steady at an estimated £75.5bn – a small increase from last years’ £75bn. That accounts for more than £1 in every £10 paid to the government.

Happy New Year! This week the Financial Times and other newspapers reported that concerns have been raised over interview questions asked of a gay candidate for Lord Mayor of London. The process which determines who holds the 830-year-old title has been sharply criticised – and rightly so.