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.

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The plan aims to transform the Square Mile into a cultural and leisure destination for everyone, and ensure the city is a highly sustainable place to do business, with a net zero Square Mile by 2040.

Policy chairman and political leader at 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.

“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.”