City of London

History of the City of London

The City of London is a separate place from Greater London, although many people don’t realise that there is a clear distinction between the two – and an important one. 

Greater London takes in all of the capital’s boroughs whereas the City of London is also called the Square Mile. When we talk about ‘London’ generally, we’re typically talking about Greater London, which is the UK’s capital and a county in its own right, spanning around 607 square miles and 32 different boroughs, of which include the City of London is one.

The Greater London Authority (GLA) presides over London and its population of over 8.5 million people. The GLA is based out of City Hall and it comprises the Mayor of London – a post currently held by Sadiq Khan – and the Greater London Assembly.

Defining the City of London

So what about the City of London? Well, the origins of this square mile are based in the original city of Londinium; the Roman settlement which stood around two thousand years ago on the River Thames’ northern bank. Within its squares, the fortified city covered a square mile – which explains its longstanding name, despite the fact that the current footprint for the City of London covers two square miles.

The boundaries of the City stretch to the north from the Tower of London on the Thames and Temple, over to the West, at Chancery Lane, and then to Liverpool Street at the east. The boundaries are marked by iron dragons, located on the street.

The City of London has 10,000 residents, but a whopping 400,000 commuters and visitors each day, who work in landmark buildings such as the Cheesegrater, the Gherkin, and the Walkie Talkie. The area also welcomes around ten million tourists every year.

The City of London has a special status too, despite falling under the administrative jurisdiction of the GLA and Greater London. This is because it has its own mayor, its own government, and even its own police force. Operating from the Guildhall, the City of London Corporation comprises the Court of Aldermen, the Lord Mayor of London and the Court of Common Council.

The Importance of the City of London

Although the City of London is just one part of London as a whole, it has a highly important role as home to the country’s powerful financial services industry. The City of London is the location of the Bank of England, which represents the financial heart of Britain. In recent years, it lost its leading position for banking employment as Canary Wharf took over in the East of London.

Brexit may have threatened the financial power of London, but the city still retains the financial leader within Europe and holds a vital role across global banking, particularly with regards to Fintech development. With financial services, tourism and a strategic position within the UK’s capital city, the City of London remains one of the most important parts of Britain.

Providing HR Support to City of London Businesses

The HR Dept London City and Central provides a wide range of outsourced HR services to business in the City of London. These services are tailor-made to your business and are more flexible and also financially viable than employing a full time or even part time HR professional. Employment law can be a minefield for a small growing business and taking it on yourself can be risky but costly in the long run. Get in touch today to find out how we can help.

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