The Lord Mayor of the , Alastair King, will tonight (9 January 2025) deliver a speech at the annual London Government Dinner held at The Mansion House to an audience of senior political figures and business leaders from the financial and professional services sectors.
The Lord Mayor will speak alongside the Mayor of London Sir Sadiq Khan.
The Lord Mayor of the Corporation, Alastair King will say (please check against delivery):
“At this crucial time when the nation is crying out for economic growth, we know that growth is to be found here in London and that it is only through unleashing growth that we can tackle the other challenges – economic, social, environmental – which face our communities in London as much as any other communities across the country.
“The City Corporation fully supports the focus in the London Growth Plan on being a global services leader, at the frontier of innovation in sectors such as life sciences, digital and AI, the green economy and climate tech. These are all markets and industries which the sees as vital to our future.
“Stepping into the New Year also offers us a chance to reflect briefly on a different markets story. Last year we took a transformative decision about the future of Smithfield and Billingsgate markets; one which will ensure the legacy of these iconic markets will continue to thrive in new, purpose-built facilities.
“This decision, supported by extensive consultation with traders, secures the long-term future of these historic sites while embracing a forward-thinking, innovative vision for the City and London.
“It’s important to note 70% of Smithfield traders have stated that they intend to come together to collectively move to a new facility within the M25, with the remaining businesses seamlessly transferring, ensuring 100% of trade continues.
“Smithfield Market’s current location prevented traders’ expansion and provoked grumbling about traffic restrictions. But this move is about more than just logistics—it’s a step toward a greener, more sustainable City, reducing congestion and improving air quality, particularly in surrounding areas like Tower Hamlets.
“The redevelopment of Smithfield, a Grade Two listed building, will create an international cultural and commercial hub, complementing the new London Museum where we’re already working with the GLA.
“The new site will generate hundreds of new jobs, more than a million annual visitors and billions of pounds for the economy over the coming decades.
“Similarly, Billingsgate’s redevelopment will deliver up to 4,000 new homes, including affordable housing, public realm improvements, and a new bridge across Aspen Way to address socio-economic disparities. It will also create 14,500 jobs, supporting London’s growth.
“These transformations align with the City Plan 2040 and the Destination City vision, making the Square Mile a dynamic, inclusive destination.”
';
