London's historic food markets, Smithfield and Billingsgate, are set to be transformed into residential and cultural sites, though the fate of current traders is uncertain. The City of London Corporation, which oversees the area, has voted to regenerate 28 acres but has not allocated funds. Despite backlash from stakeholders, the corporation argues the new development will provide significant economic benefits and housing. Traders will continue operating until 2028, and there is ongoing dialogue about finding new locations for affected businesses.
The City of London Corporation has faced backlash over the decision to close the ancient Smithfield and Billingsgate food markets, impacting centuries of trading.
Chris Hayward emphasized that the redevelopment of the Smithfield and Billingsgate sites could generate significant economic growth and contribute billions to the UK economy.
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