What Does the City of London Corporation Do?

By Anna Duncan

The City of London Corporation is one of the oldest local government bodies in the world, established over 800 years ago. It is responsible for managing the financial and commercial district known as the City of London, which is often simply referred to as “the City.” But what exactly does the corporation do? Let’s take a closer look.

What is the City of London Corporation?

The City of London Corporation is an independent governing body that manages the City of London. It is not part of any other local authority or government body, and it has its own unique set of laws and regulations.

The Lord Mayor

The City of London Corporation is headed by the Lord Mayor, who is elected annually by the liverymen (members) of the city’s guilds. The Lord Mayor serves as a ceremonial figurehead and represents the city on a national and international level.

The Common Council

The Common Council is made up of 100 members who are elected by residents and businesses in the city. They are responsible for making decisions about local services such as housing, education, and social services.

What does the City of London Corporation do?

The City of London Corporation has several key functions:

1. Managing public services

The corporation provides a wide range of public services to residents and businesses in the city. These include waste collection, street cleaning, parks maintenance, and environmental health.

2. Supporting business

The corporation works to promote economic growth in the city by supporting businesses and encouraging entrepreneurship. It also manages some important institutions such as Smithfield Market, Leadenhall Market, and Billingsgate Fish Market.

3. Maintaining cultural heritage

The corporation has a duty to preserve and promote the cultural heritage of the city. It manages several museums and galleries, including the Museum of London and the Guildhall Art Gallery.

4. Regulating finance

The City of London is one of the world’s leading financial centers, and the corporation plays a key role in regulating the financial industry. It oversees the Bank of England, the Financial Conduct Authority, and many other financial institutions.

Conclusion

In conclusion, the City of London Corporation is a unique institution that has been shaping the city for over 800 years. Its responsibilities include managing public services, supporting business, maintaining cultural heritage, and regulating finance. With its own set of laws and regulations, it is an important part of London’s history and identity.

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