Subject to government approval the City Corporation will push through legislation that it says has been developed "to support the changing working, living and commuting habits across London".
Motorists passing through the Square Mile will soon have to follow a new blanket 15mph speed limit.
Subject to government approval, the City Corporation will push through legislation that it says has been developed “to support the changing working, living and commuting habits across London”.
The decision follows a public consultation into 54 proposals unveiled by the local authority last year, which together sets a 25-year framework for its first long-term Transport Strategy.
Monitoring revealed that 90% of all journeys made on the City’s streets are partially or entirely walked.
The strategy prioritises the needs of people walking when delivering changes to streets, and makes the most efficient use of street space by working to reduce motor traffic by 25% by 2030, and by 50% by 2044.
Alastair Moss, chair of the planning and transportation committee, said: “The City of London is one of the most well-connected parts of the UK, with 15 Tube stations, seven Tube lines, eight mainline stations, multiple bus routes and a fast-evolving bicycle network.
“We are working tirelessly to support the 513,000 workers that commute to the Square Mile every day, and to deliver the forward-thinking City that Londoners want to see.
“These radical plans will ensure the continued success of not just the City, but wider London and the UK as a leading global business and cultural destination.”
Data also shows that cycling has increased by 292% since 1999, while the number of vehicles using the Square Mile’s streets has halved in the last 20 years.
The strategy will see the City Corporation enhancing its cycling offer, launching a new cycling network and improving the quality and accessibility of cycle hire facilities.
A long-term programme to make transformative changes will start later this year, with the 15mph speed limit implemented by 2021/22, subject to approval by the Department for Transport.
The Transport Strategy Delivery Plan will be considered by the planning and transportation committee this summer.