Two of London’s most famous markets – one the fish market, the other the meat market – are to close in the coming years, ending a trading tradition that has existed here since the Middle Ages.
The City of London Corporation, the governing body of the capital city’s historic centre, is to introduce a bill in Parliament on Wednesday to end its responsibilities for the running of Billingsgate Fish Market and Smithfield Meat Market.
Both these markets have been in existence in some form or the other since the 11th century. A day earlier the corporation had decided not to shift the markets to a new development site in Dagenham, east of London.
It recently abandoned the planned move due to rising expenses as a result of the recent bout of inflation and rising construction costs. Currently its cost is about one billion pounds ($1.25 billion).
Instead, under a new agreement with market traders, the corporation will provide financial compensation and advice. Traders have a little time to decide what to do, as operations will continue until at least 2028.
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