Medieval-era fish and meat markets in London to shut

Two of London's most famous markets — one selling fish, the other meat — are set to close in the coming years, bringing an end to traditions stretching back to medieval times.

On Wednesday, the City of London Corporation, the governing body in the capital city's historic hub, is set to present a bill to Parliament to bring an end to its responsibilities to operate the Billingsgate fish market and the Smithfield meat market, both of which have existed in some shape or form since the 11th century.

That comes a day after the corporation decided not to relocate the markets to a new development just east of London in Dagenham.

It abandoned the planned move because of the growing expense, both as a result of the recent bout of inflation and an increase in construction costs — at around 1 billion pounds ($1.25 billion), as things stand.

Instead, under a new agreement with market traders, the corporation will provide financial compensation and advice. The traders have a bit of time to work out what to do, with operations continuing until at least 2028.