This week, the City of London Corporation’s Policy and Resources Committee and its Chief Offers spent two days outside of Guildhall discussing some of the great challenges and opportunities which exist and prioritising where they need to focus resources to achieve strategic ambitions.
Unlike many other Committees at the City of London Corporation, the P&R Committee have never done this before and I suggested that there was a need to do so some month prior to bring the many different views and ideas Members have together in one room and allow us to really thrash it out in an informal setting, making arguments for and against each idea.
In my 8 years at the Corporation, I think it was the most productive two days I’ve experienced. Collegiate, respectful, considered – it really was the City at its best.
The Policy and Resources Committee Chairman kindly summarised the output of our 5 focus areas below…
SUMMARY:
Members of your Policy and Resources Committee participated in the Committee’s first-ever Away Day – engaging in two days of broad-ranging discussion on some of the major, cross-cutting challenges affecting our Corporation, including the mid-term financial pressures, which will affect both City’s Fund and City’s Estate.
The Committee was broadly aligned on a number of key areas, including a collective vision for the Corporation’s impact in 2040. There was no change to the Corporation’s overarching mission: The City of London Corporation is the governing body of the Square Mile, dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK.
Members agreed to reconvene in 5-6 months for a mini-Away Day – reviewing some of the initial and most urgent action items identified during their deliberations.
In addition, they asked officers to focus on five priority areas.
- Develop an options appraisal that defines our current and prospective future role in delivering education to young people across London—both through our family of independent schools and through our responsibilities as trustee of CoLAT.
- Develop a proposed spatial framework that presents a holistic view for how the City Corporation can more actively shape the future development of the Square Mile—across strategic sites within its own portfolio, third-party holdings, and the public realm. It should build upon the draft City Plan 2040’s spatial strategy, while recognising that the City’s influence and ecosystem extend beyond its formal boundaries.
- Support the work of the emerging Cultural Strategy to ensure it aligns with our broader cultural investments, both financial and in-kind, with our emerging spatial framework and with Corporate Plan objectives. It should ensure that cultural initiatives are not treated in isolation, should help prioritise resources, guide partnerships, and measure impact, reinforcing the Square Mile’s identity as a global centre for culture, business, and innovation.
- Develop an options appraisal of our Climate Action Strategy that outlines the pathways to achieving our commitments, including associated costs and timelines. It will also assess the implications of aligning our targets with the government legislation, compared to maintaining our current accelerated timeline.
- Provide an overview of the digital tools and transformation requirements to ensure the City Corporation is able to meet future service delivery, which includes an estimate of investments needed to ensure our paid service remains effective, resilient, and capable of meeting evolving expectations.