The Square Mile’s recovery will create an innovative, inclusive and sustainable business eco-system
Walking around the City’s streets has been a joyous experience since many businesses started to reopen their doors and welcome back customers. It has been fantastic to see the vibrancy and the buzz, which the Square Mile is so well known for, gradually returning, taking us that bit closer to the more normal times that I know we are all looking forward to.
With the vaccination roll out well underway, we can be reassured that those times are now not too far away. The City of London Corporation is committed to supporting a strong, sustainable recovery here in the Square Mile.
As part of this work, we are focusing on five major strands to help us build back better.
Firstly, we will be publishing an action plan from our Recovery Taskforce tomorrow. The Taskforce, which was commissioned in November last year, has been listening to businesses of all sizes in the City to understand how the pandemic has affected their ways of working. The Recovery Taskforce will set out how we plan to ensure the Square Mile adapts to post-pandemic trends and changing demands on urban centres.
At the heart of this will be making sure the City is the world’s most innovative, inclusive and sustainable business eco-system, and an attractive place to invest, work, live, learn and visit.
Secondly, over the shorter-term we are undertaking a wide range of work to support businesses across the City. Our new COVID Business Recovery Fund of up to £50 million launched earlier this month for small and medium size enterprises which have faced exceptionally challenging trading conditions over recent months and are the life blood of the City. I urge those SMEs that are eligible to apply before the 11 June deadline.
We also recently received the welcome news that government’s latest issue of additional restrictions grant will be allocated on a per business basis, rather than on residential headcount. This finally gives us a fairer basis upon which to support City SMEs.
Thirdly, over the coming months and in line with Government’s roadmap, the City Corporation will also be urging Square Mile workers, residents and visitors to show their support for City businesses through a series of reopening events.
Fourthly, the City Corporation will be launching a London Recovery Campaign, a promotional campaign aimed at workers, encouraging the return to the office, in line with government guidance, highlighting the Square Mile’s diverse and exciting offer.
And, finally, the COVID-19 Business Accreditation Scheme too, will provide vital reassurance to customers that premises are COVID-secure and safe to visit once again.
We are eager to welcome back visitors and workers to an even better Square Mile than they left, and we are demonstrating this by investing for the future. I am delighted with the plans for a new civic development and “Justice Quarter”, which were approved last week. They will have a transformative impact on Fleet Street and provide a state-of-the-art Crown, Magistrates, County and Civil Courts and a new City of London Police HQ, built to tackle national fraud and economic crime.
We are confident that this work will drive recovery and growth in the Square Mile and beyond, ensuring that the City retains its global position as a hub for business, law and justice for generations to come. Once again, we are open for business.