City occupation planned to mimic Wall St

A planned occupation of London's financial centre inspired by huge demonstrations in New York could last for weeks, organisers said today.

More than 4,000 people have already pledged to join the Occupy the London Stock Exchange event on Saturday as part of a global campaign to highlight social and economic injustice.

The protest echoes a similar occupation carried out in Wall Street in New York which has seen demonstrators take over a park in lower Manhattan for three weeks.

Supporter Naomi Colvin said the direction of the protest would be decided by a "general assembly" but that an occupation lasting weeks was "within the range of possibilities". "We are making arrangements for something that is there for more than a day," she said.

Protesters plan to meet in front of St Paul's Cathedral at midday on Saturday and are being advised to bring tents, food and water. The occupation is expected to start at 4.30pm but the area to be occupied has not been announced.

Kai Wargalla, one of a group of 20 main organisers of the protest, said: "This is a people-powered movement protesting against the increasing social and economic injustice in the UK.

"We want to stand with the 99 per cent, the overwhelming majority who value people over profit. We want to make our voices heard against greed, corruption and for a democratic, just society."