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Originally Posted by Vin
A London borough is still part of London, like how the different boroughs in NYC make up the city. They all observe the same policies and regulations created by the same municipality. All London boroughs are even served by the Metropolitan police force.
The City of London run by a corporation is a totally separate entity deriving from ancient Roman times and is only about a square mile. It even has its own "City of London" police force protecting the small area including its vast financial assets. It is like asking why Rome's Hilton Hotel is not found in the Vatican City. 
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Southwark is part of London like Burnaby is part of Greater Vancouver. There's Greater London (with a mayor) and there's The City of London, which is where the centre of commerce has traditionally located.

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Southwark Council has a Plan, and planning department, just like Burnaby has its own planning department and an ODP.
The police force debate is totally irrelevent, but The City of London has its own police force just as the City of Vancouver has its own police force, and Burnaby has the RCMP.
And the tallest building in Greater London isn't in the core, it's in Southwark, south of the Thames, not that close to The City.
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Before 2019, when the second tallest was completed at 22 Bishopsgate (in the City of London), the tallest for nearly 30 years was at Canary Wharf, which is miles from the centre of London. (You can see it as part of that cluster of towers off in the distance on the City of London image above. Canary Wharf has a cluster of towers just as Brentwood has a cluster of towers, distant from the centre of the city.
Several European cities have their tallest buildings outside the core. It's a weird obsession to get hung up on.