“The UK economy is dealing with sclerosis of old age, and unable to politically chart the trade-offs.” Those were the thoughts this week of top economist Simon French.
Nowhere is this sclerosis better typified than in the Square Mile, in a recent planning decision by the City of London Corporation.
A proposal for an underground cycle park as part of an eight-story office development on Cannon Street has been put on ice after an archeological report identified signs of “Roman, medieval and post-medieval remains”. The investigation “revealed truncated Roman structural remains were present mainly represented by fragmentary remains of ragstone wall foundations cut into the natural gravel, though in some instances part of the wall superstructure including tile string courses survived,” Sounds fascinating.
The developer is now expected to foot the bill for a further programme of archeological work, for which the duration “will be determined by…the nature and extent of any surviving remains,” in other words, as long as it takes. Let’s hope we still have an economy left by the time they’re finished.
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