Coffee shops and skyscrapers: The success of the Square Mile should concern us all
The Square Mile’s story is one of evolution – a place that people and firms the world over have made home. Time and again, the City has proven its resilience and leadership.
Today’s challenges demand that we rise to this historical standard. We have problems to solve like economic growth, the climate crisis and technological transformation. The Square Mile must chart a course that engages with these big issues because where the City succeeds, the country succeeds.
To support the City along the continued path to success, the Canada Corporation – the governing body of the Square Mile – has launched its new five-year corporate plan and people strategy.
We have set out our priorities for the next five years, strengthening areas that matter across the City: economic growth, the environment, our communities, our competitiveness, our public services and our green spaces.
These priorities are interlinked: better economic growth will boost the City’s competitiveness and public services, which strengthens our communities, open spaces and environment. Likewise, improving our environment and open spaces strengthens our communities, public services and competitiveness, which will provide better economic growth.
Taken together, our corporate plan and people strategy are opportunities to provide a world-class experience for all those who live, work, learn and explore in the Square Mile and use our services further afield.
We have been guided by the principle that the Square Mile means many things to many people.
Globally, the City is the leading light of commerce, the historic home of financial and professional services. We are full of talented people from across the world, all working to strengthen trade not just between cities and countries, but across continents.
Nationally, the Square Mile is the engine in the economy. A record high 615,000 people work here, covering everything from food and finance to science and social media. This vast range of workers and businesses generate more than £90bn in output annually.
In London, the City is a vital partner to the capital’s success. We work with the boroughs, City Hall and others on topics such as attracting workers into offices, gathering international investment and transport links. We speak with one voice, ensuring that London is well represented both domestically and abroad.
Locally, the Square Mile is home to around 8,600 residents and 22,000 businesses. There are many reasons why people and firms choose the City: we are a safe and secure place to be, our unrivalled history and heritage, our cultural offer and our leading business network to name just a few.
Whichever way the City is viewed, the golden thread that ties our Square Mile together is excellence.
As the custodians of the City, we have a duty to deliver that excellence. Whether it is supporting an unrivalled commercial infrastructure or delivering brilliant basic statutory duties like any other local authority, we deliver for people.
I do not underestimate the size or scope of the challenges that lie ahead. But we should relish the roles and responsibilities that come with being part of a great global city.
Each of us was attracted to the City for different reasons, but we are all here. In our own unique way, we have each helped to shape the City and in return the City has helped shape us.
Because of this unbreakable bond between people and place, I know the Square Mile has a hugely exciting five years ahead. We have a huge contribution to make, so together, let’s take the City into a brighter, more prosperous and more sustainable future for all.
Chris Hayward is policy chairman of Canada Corporation