The City of London is a historic financial district, home to both the Stock Exchange and the Bank of England. Modern corporate skyscrapers tower above the vestiges of medieval alleyways below. City workers and visitors frequent its smart restaurants and bars. Tourists visit iconic, 17th-century St. Paul’s Cathedral, trace the city’s history at the Museum of London and take in performances at the huge Barbican arts centre.
Your Ward of Cheap Team: Nick Bensted-Smith, Tijs Broeke and Alastair Moss
This Square Mile is governed by the Court of Common Council with 25 Wards represented by Common Councilmen (or Councillors) and Aldermen. Residents, City workers, charities and small businesses based in the City can register to vote in local elections.
The residential population of this small area is approximately 8,000 people. However, over 400,000 people commute into the City every day for work and over 10 million visit as tourists every year.
As a local authority the City of London Corporation is responsible for things such as cleaning, transport, licencing and services to residents. But the City Corporation also supports education, open spaces and charitable giving across London. The City has its own Police force and together with the Lord Mayor the City Corporation promotes the Square Mile in the UK and globally.
Economy
Financial and professional services produced £294bn in economic output, contributed over £110bn in taxes, exported over £150bn and generated £1.1bn in FDI for the UK economy. The City is a key driver of the economy, generating over £97bn in economic output annually.
Employability and Skills
The City Corporation has a longstanding programme to support skills and employability, particularly in the City’s neighbouring boroughs to help young people access the many employment opportunities in London.
Education
The City is the sole sponsor of a multi-academy trust, the City of London Academies Trust. The Trust currently sponsors 12 primary and secondary schools across Islington, Hackney, Newham and Southwark. In addition, the City of London provides education through three independent schools.
Culture destination
The City Corporation is building upon the existing arts and culture offer in the North West of the Square Mile to create a vibrant and welcoming cultural hub. The relocation of the Museum of London to West Smithfield and a significant investment in the Barbican Centre. Other key attractions such as Tower Bridge and St Paul’s make the City a welcoming destination for tourists and other visitors.
Open Spaces
The City Corporation is the custodian of almost 11,000 acres of green space in and around London. This ranges from the 200 small parks and gardens in the Square Mile to large open spaces such as Hampstead Heath and Epping Forest.
Policing
The City of London Police, along with its local responsibilities to keep the Square Mile one of the safest business districts in the world (neigbourhood policing, anti social behaviour), is the national UK lead force for fraud. Within its specialist Economic Crime Directorate are a number of units dedicated to tackling fraud and other economic crimes, as well as cyber crime and the threat of terrorism.
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