Plans aimed at protecting views of the Tower of London could result in a £1.2bn loss of economic output for the City of London, the City of London Corporation has warned. Historic England, the government's heritage watchdog, is seeking to establish a "larger uninterrupted gap of clear sky" between the Tower and the cluster of skyscrapers on the eastern edge of the Square Mile.
Tom Sleigh, the City of London Corporation's planning chairman, stated that restrictions on construction near the Tower could "sterilise" the area's economic output by £1.2bn. He added that Historic England's plan could eliminate around 20 planned skyscrapers in the east of the City, potentially leading to a loss of 1m sq ft of office space and 6,800 jobs.
The Corporation's planning policy was approved last year but was subsequently called in for further examination by housing minister Matthew Pennycook due to concerns it might jeopardise the Tower of London's status as a Unesco world heritage site. A planning inspector is now reviewing Historic England's alternative proposal, which suggests that nearby towers should "lean away" from the heritage site.
The City Corporation has indicated that the watchdog's plan could prevent developers from building to their desired heights, potentially removing profit margins from schemes. A spokesperson for Historic England said the organisation is "keen to work together to identify solutions to reduce the potential for further harm to the Tower of London world heritage site whilst still achieving major economic growth."