For almost 1,000 years the aldermen of the City of London have enjoyed almost complete command of their domain. Every month, clad in scarlet robes, the representatives of the district’s 25 wards gather in the imposing medieval Guildhall to plan the future of the financial heart of Europe – a landscape of glass and steel towers, home to banks and brokerages, amid historic stone chambers.
Now, however, the semi-independent status of the City is being challenged by an edict from central government. It threatens the world’s oldest municipal democracy, which dates back to 1067, when William the Conqueror signed a charter promising to uphold the Square Mile’s privileges and laws.
The resulting row revolves around the ability of the Court of Common Council, on which the aldermen and 100 lower-ranking “common councilmen” sit, to plan the growth of their dominion. This clique has jealously guarded the shape and nature of this 1.12 square mile of land, just to the east of central London’s retail and entertainment heartland, ensuring it is the centre of gravity for global banks and insurance companies.