The City of London financial centre is likely to see most workers return to their offices after the pandemic, the City’s policy chair said this morning.
Catherine McGuinness told BBC radio she was confident that trade would return for businesses that rely on crowds of office workers.
While McGuiness’s comments come as a boost for the City, she admitted there is likely to be changes to the way people work because of the pandemic.
“What people are telling us is that they are expecting their central office base to remain at the core of their business with people coming in three or four days, working different hours, so we are expecting the bulk of the return,” McGuinness said.
“What it will mean in terms of the overall footfall, we are not yet quite clear.”
London dominates the world’s $6.6tn-a-day foreign exchange market and is the biggest centre for international banking in the world.
McGuinness said developers were revving up plans for new buildings in the City, home to the giants of world finance.
“We’re already seeing in our planning applications a real surge of interest in getting office space in the City. So, continued interest and continued commitment to that office space, but a different way of using it.”
A survey published earlier this month by accountants KPMG showed most major global firms no longer planned to reduce their post-Covid office space. However, few expect business to return to normal this year.