City of London Corporation weighs tax rises and service cuts to plug £70mn budget hole

What happened: The City of London Corporation is considering tax rises and service cuts to close a £70mn budget hole, with the Barbican Centre facing an uncertain future as the Square Mile prepares for a Labour funding overhaul. Key numbers: £70mn budget hole. Why it matters: The measures are being weighed ahead of a Labour funding overhaul, and the Barbican Centre's future is described as uncertain.

The City of London Corporation is considering tax rises and service cuts to close a £70mn budget hole, with the Barbican Centre facing an uncertain future as the Square Mile prepares for a Labour funding overhaul.

The measures are being weighed ahead of a Labour funding overhaul, and the Barbican Centre's future is described as uncertain.