The City of London Corporation has today formally approved the local plan for the Square Mile, known as ‘City Plan 2040.’

Following its successful journey through the Planning & Transportation and the Policy & Resource Committees, earlier this year, ‘City Plan 2040’ has now been approved by the Court of Common Council, the City of London Corporation’s primary decision-making body.

The decision means that the finalised plan will now be published for public consultation, before examination by an independent planning inspector and finally, being sent to the Secretary of State for approval, later this year.

City Plan 2040 will set the planning and development policies and strategic priorities that will guide the growth of the Square Mile up to 2040. The plan will:

1. Power a growing, vibrant and competitive economy, with over 1.2m sqm of additional office floorspace delivered by 2040;
2. Transform the Square Mile into a 7-day-a-week cultural and leisure destination for everyone;
3. Ensure the City is a highly sustainable place to do business, with a net zero Square Mile by 2040;
4. Create an inclusive, accessible and healthy Square Mile where everyone feels welcome; and
5. Celebrate local heritage while re-shaping those parts of the City that have the most potential for growth and regeneration.

Policy Chairman and political leader of the City of London Corporation, Chris Hayward, said:

“The City is an asset to London, the UK and the world. It creates jobs, drives investment and is home to many precious heritage assets, all of which are for the benefit of communities, both domestically and overseas.

“As Policy Chairman and political leader of the City of London Corporation, I want to urge everyone connected with the Square Mile to participate in the public consultation round, to ensure that that the City can realise its potential as the most innovative, inclusive and sustainable place to invest, work, live, learn and visit.”

Chairman of the City of London Corporation’s Planning and Transportation Committee, Shravan Joshi, said:

““The City of London is like nowhere else on Earth. A global economic powerhouse, and an ancient city, a centre of collaboration and innovation for the hundreds of thousands of people who work here, as well as a destination for visitors and tourists who come to experience our unparalleled culture and heritage.”

“The City of today has enormous strengths but, like all successful places, it needs to adapt, to change and to grow. The City Plan 2040 will help to shape the built environment in ways that rise to the challenges of our time while making the most of the many strengths of the Square Mile.”

READ MORE HERE: Local Plan review: Draft City Plan 2040 - City of London