The City of London Corporation: spending, reserves and debt
The City of London Corporation is a City of London Corporation with about 15,631 residents (ONS, mid-2025).
Key figures
What the figures show
In 2025-26 the City of London Corporation spent £353.1 million on services, net of fees and service grants, and police accounted for 67% of it (£238.1 million), MHCLG reports.
In cash terms the total was 0.1% lower than in 2024-25, and 98% higher than the £178.4 million of 2017-18.
At 31 March 2026 the council held £396.8 million in unallocated and earmarked reserves (£20.0 million unallocated, £376.8 million earmarked for set purposes), excluding schools and public health reserves. Over the year to 31 March 2026 reserves rose by £29.8 million. It is the highest year-end figure since the series began in 2018.
MHCLG's borrowing and investment table shows no outstanding borrowing at 31 March 2026, against investments of £1.75 billion.
For 2026-27, the average Band D bill in the area is £1,329.56, +4.4% on 2025-26 and 3.2 times the £414.00 of 1993-94. On the statutory proportions that means £886.37 in Band A and £2,659.12 in Band H.
GOV.UK lists the City of London Corporation among councils given Exceptional Financial Support in 2026-27; the amounts as published are in the table below.
The City of London Corporation spending by service, 2025-26
| Service | Net spending, 2025-26 | Share of services that cost money | Per resident |
|---|---|---|---|
| Police | £238.1 million | 66.8% | £15,233.45 |
| Culture and leisure | £50.7 million | 14.2% | £3,245.28 |
| Environment and regulation (including waste) | £17.1 million | 4.8% | £1,094.24 |
| Planning and development | £10.2 million | 2.9% | £654.66 |
| Education | £9.8 million | 2.8% | £627.54 |
| Adult social care | £8.2 million | 2.3% | £527.48 |
| Housing (not council housing) | £8.0 million | 2.2% | £512.83 |
| Central services | £7.5 million | 2.1% | £482.57 |
| Children's social care | £5.0 million | 1.4% | £322.88 |
| Public health | £1.5 million | 0.4% | £98.97 |
| Other services | −£62,000 | net income | £-3.97 |
| Highways and transport | −£3.2 million | net income | £-204.59 |
| Total | £353.1 million | £22,591.32 |
History
City of London: net spending by year
| Year | Net spending |
|---|---|
| 2017-18 | £178.4 million |
| 2018-19 | £194.0 million |
| 2019-20 | £216.1 million |
| 2020-21 | £239.6 million |
| 2021-22 | £231.6 million |
| 2022-23 | £269.9 million |
| 2023-24 | £326.9 million |
| 2024-25 | £353.5 million |
| 2025-26 | £353.1 million |
City of London: reserves at 31 March
| Date | Reserves |
|---|---|
| 31 March 2018 | £121.2 million |
| 31 March 2019 | £108.5 million |
| 31 March 2020 | £177.1 million |
| 31 March 2021 | £200.9 million |
| 31 March 2022 | £251.3 million |
| 31 March 2023 | £261.5 million |
| 31 March 2024 | £334.0 million |
| 31 March 2025 | £367.1 million |
| 31 March 2026 | £396.8 million |
City of London: borrowing and investments
| Date | Borrowing | Investments |
|---|---|---|
| 31 March 2010 | £0 | £890.5 million |
| 31 March 2011 | £0 | £915.0 million |
| 31 March 2012 | £0 | £915.4 million |
| 31 March 2013 | £0 | £1.06 billion |
| 31 March 2014 | £0 | £1.06 billion |
| 31 March 2015 | £0 | £1.26 billion |
| 31 March 2016 | £0 | £1.43 billion |
| 31 March 2017 | £0 | £1.44 billion |
| 31 March 2018 | £0 | £1.49 billion |
| 31 March 2019 | £0 | £1.57 billion |
| 31 March 2020 | £0 | £1.77 billion |
| 31 March 2021 | £0 | £1.79 billion |
| 31 March 2022 | £0 | £2.22 billion |
| 31 March 2023 | £0 | £1.98 billion |
| 31 March 2024 | £0 | £1.95 billion |
| 31 March 2025 | £0 | £1.79 billion |
| 31 March 2026 | £0 | £1.75 billion |
City of London: Band D by year
| Year | Area Band D | Council's own Band D |
|---|---|---|
| 1993-94 | £414.00 | not published |
| 1994-95 | £414.00 | not published |
| 1995-96 | £432.00 | not published |
| 1996-97 | £450.00 | £381.85 |
| 1997-98 | £475.00 | £402.49 |
| 1998-99 | £513.00 | £439.73 |
| 1999-00 | £536.00 | £463.24 |
| 2000-01 | £556.77 | £485.96 |
| 2001-02 | £579.76 | £510.35 |
| 2002-03 | £620.11 | £536.80 |
| 2003-04 | £741.61 | £624.00 |
| 2004-05 | £773.18 | £671.98 |
| 2005-06 | £806.49 | £706.33 |
| 2006-07 | £860.53 | £741.65 |
| 2007-08 | £900.28 | £775.59 |
| 2008-09 | £923.30 | £793.81 |
| 2009-10 | £942.79 | £809.29 |
| 2010-11 | £950.30 | £807.32 |
| 2011-12 | £939.18 | £807.22 |
| 2012-13 | £935.93 | £804.77 |
| 2013-14 | £943.39 | £803.48 |
| 2014-15 | £941.79 | £803.46 |
| 2015-16 | £943.44 | £803.41 |
| 2016-17 | £931.20 | £808.85 |
| 2017-18 | £931.20 | £805.38 |
| 2018-19 | £933.41 | £806.06 |
| 2019-20 | £972.66 | £846.31 |
| 2020-21 | £1,007.19 | £880.10 |
| 2021-22 | £1,049.44 | £906.41 |
| 2022-23 | £1,074.57 | £915.47 |
| 2023-24 | £1,145.64 | £961.15 |
| 2024-25 | £1,217.89 | £1,009.11 |
| 2025-26 | £1,274.07 | £1,059.46 |
| 2026-27 | £1,329.56 | £1,112.38 |
City of London figures as CSV · What each figure measures
City of London council tax bands, 2026-27
Worked out from Band D (£1,329.56) at the proportions in section 5 of the Local Government Finance Act 1992; area averages.
| Band | Annual amount |
|---|---|
| Band A | £886.37 |
| Band B | £1,034.10 |
| Band C | £1,181.83 |
| Band D | £1,329.56 |
| Band E | £1,625.02 |
| Band F | £1,920.48 |
| Band G | £2,215.93 |
| Band H | £2,659.12 |
Section 114 notices and Exceptional Financial Support
GOV.UK publishes a page for each year listing the councils given Exceptional Financial Support (permission to use capital money or borrowing to meet day-to-day costs). The City of London Corporation appears in these years, with the wording as published:
| Year | As published on GOV.UK |
|---|---|
| 2026-27 | £2.65m (support agreed in-principle) |
Who has power over City of London
Every body that makes decisions for City of London, from the street up to the G20. Each one links to its page on the official record. How the ten levels work.
Level 1: Neighbourhood and community power
Residents' and tenants' groups, neighbourhood forums and local policing panels.
Level 2: Parish, town and community councils
Parish, town and community councils, where the area has them, sit below the council.
Level 3: Local councils
- City of London council this page
- City of London in official figures population, pay, house prices, crime
Level 4: County councils, combined authorities and metro mayors
- Greater London Authority Greater London Authority
- City of London Police police force
- Barts Health NHS Trust NHS
- NHS North East London Integrated Care Board NHS
- London in official figures
Level 5: Devolved and state governments
England has no devolved parliament of its own: its laws are made by the UK Parliament.
Level 6: National government
- Cities of London and Westminster: Rachel Blake (Labour (Co-op)) MP
- All 650 MPs votes, interests and costs
- UK government and Parliament official figures and sources
Level 7: Regional blocs and supranational bodies
- Council of Europe and the European Court of Human Rights (CoE / ECtHR) The UK Government says the United Kingdom was one of the Council of Europe's founding members.
Level 8: The UN and global treaty bodies
- United Nations (General Assembly and Security Council) The UN lists the United Kingdom as a member admitted on 24 October 1945.
- United Nations Security Council (UNSC) The UK is one of the five permanent members of the Security Council and holds the veto, according to the UN.
- NATO NATO lists the United Kingdom among its 12 founding members, which signed the North Atlantic Treaty in Washington, D.C.
- World Health Organization (WHO) WHO's list of member states includes the United Kingdom of Great Britain and Northern Ireland.
- World Trade Organization (WTO) The WTO says the United Kingdom has been a WTO member since 1 January 1995 and a member of GATT since 1 January 1948.
- Commonwealth of Nations The UK is one of the 56 members, one of three European members with Cyprus and Malta, and the Commonwealth Secretariat is headquartered at Marlborough House in London.
Level 9: The IMF, World Bank and global finance
- International Monetary Fund (IMF) The UK has been a member since 27 December 1945 and has a quota of SDR 20,155.1 million (IMF country page for the United Kingdom).
- World Bank Group (WBG) The UK holds 3.75% of voting power in the IBRD (data as of 30 June 2026) and 6.92% in IDA (as of 30 June 2026), according to the World Bank's voting tables.
Level 10: G7, G20, Davos and global forums
Sources
MHCLG revenue outturn · MHCLG borrowing and investment table · MHCLG Band D table · ONS population, mid-2025. Read 15 October 2026; file fingerprints (SHA-256) are listed on the council money page.
More on the City of London Corporation
- City of London: local statistics
- How much has council tax gone up this year?
- Can I inspect my council's accounts?
Figures checked 15 October 2026. Link moved or figure out of date? Tell us.