City of London to increase armed police patrols after Paris attacks
The City of London Corporation has pledged £1.6m more to increase armed police patrols in the Square Mile in the wake of the Paris attacks.
It plans to fund the increase in security with a 0.1p rise in business rates from 0.4p to 0.5p in the pound.
Police authority funding can be raised locally, the home secretary has said.
The corporation said because of the City's low residential base, funding would be raised from April through a rise in rates rather than council tax.
It estimates about 9,000 people live in the Square Mile.
Roger Chadwick, chairman of the City of London Corporation's finance committee, said: "We are determined to ensure that the City's police officers have the resources that they need to combat the threat of terrorism on our streets - particularly following the Paris attacks last year.
"This decision will strengthen the City's armed response teams and support the crucial role that they would play on behalf of the public in the event of a terrorist attack."
City of London police commissioner Ian Dyson said: "The terrorist threat continues to develop and adapt and working with the City of London Corporation we continually look to ensure we have the right skills and capabilities to protect the Square Mile.
"This extra investment will ensure that we can continue to protect the people, businesses and buildings of the Square Mile against terrorism."