The City of London has submitted a Private Bill to Parliament, aiming to revoke its centuries-old obligation to provide land for food markets. This requirement dates back to a 1638 charter from King Charles I. While only Smithfield Market remains within the City’s boundaries, the charter also applies to Billingsgate Fish Market in Tower Hamlets and New Spitalfields Market in Leyton.

The proposed legislation seeks to nullify the original charter and amend 20 related laws, including the 1990 City of London (Various Powers) Act. This significant legal shift would end the historic principle of centralised markets, though traders are expected to receive compensation to help relocate.

Rising costs have hindered replacement plans, such as the proposed Dagenham Dock market, which was cancelled after costs reportedly tripled. Additionally, many traders adopted delivery services during the pandemic, reducing reliance on physical markets.

The bill must pass through both Houses of Parliament and receive Royal Assent. Copies are available for public inspection or purchase at the City Remembrancer’s office in the Guildhall, though fees are currently waived.

If approved, the bill will mark the end of a historic tradition, reflecting modern logistical and economic realities while preserving the memory of a centuries-old system that defined London’s markets.