It has been revealed in The Evening Standard that the Corporation of London is set to slash roadspace in the square mile by 50%, as well as reducing the speed limit to 15 mph.
Draft proposals from the Corporation of London will see taxis, buses, vans and cars excluded from "pedestrian priority " zones.
As expected, cyclists will be allowed to enter the pedestrian zones, but expected to give priority over to foot-traffic.
A section of Threadneedle Street as well as the roads around Mansion House, Moorgate and Liverpool Street Station are included within the proposed pedestrianisation.
The proposals are part of a long-term transport project which will see the City of London transformed into a "world class" street scene showing London is "open for business," with some of the proposals being brought in as early as 2019.
The Corporation have also urged TfL to ditch the Congestion Charge, in favour of a "road-user charge," claiming that the former, which was introduced in 2003, under Ken Livingstone regime as mayor, is outdated and not fit for purpose.
The proposals also call for a two meter wide protected cycle lane, which will segregate busy routes.
The Planning and Transportation Committee will make a decision on the proposals on October 30.