Despite the fact that everyone knew former Lord Mayor Peter Estlin would get a knighthood in the new year’s ‘honours’, the City of London lie machine considered the matter worth puffing up for the press:
Former Lord Mayor of the City of London, Peter Estlin, has been awarded a knighthood for services to international business, inclusion and skills in the New Year’s Honours.
Peter was commended for his work as Lord Mayor in 2018-2019, during which he visited 47 cities in 26 countries to promote the UK financial and professional services sector.
Former Lord Mayor receives knighthood in New Year’s Honours, City of London website, 27 December 2019: https://web.archive.org/web/20191230100621/https://news.cityoflondon.gov.uk/former-lord-mayor-receives-knighthood-in-new-years-honours/
The fact that almost everyone who wins the City of London’s rigged mayoral elections gets a knighthood tells you a lot about the priorities of those running the UK’s ‘honours’ system. Indeed not only is the mayoral election fixed, the City of London with its business vote system is the UK’s last rotten borough. The former Lord Mayor Peter Estlin getting a knighthood a couple of months after stepping down from the post isn’t really news, but it was news when Ian Luder backed unpopular policies and failed to get this ‘honour’.
The Government is to distance itself further from the City by breaking with tradition and declining to knight the Lord Mayor of London, Ian Luder.
Luder, the 681st Lord Mayor who stepped down last month, will become the first top City Alderman to be denied the honour since Harold Howard in 1954. For the past century, with very rare exceptions, every Lord Mayor not already knighted has received the honour.
Mr Luder, a former Labour councillor, is thought to have angered officials with his defence of bankers’ bonuses.
In light of the public outcry, the Cabinet Office has decided to give him a lesser honour as it does not want to provoke a backlash by rewarding City champions.
Banks have received hundreds of billions of pounds of taxpayer support this year and made untold profits through so-called “hidden gifts” – the easy money pocketed from exploiting low interest rates and other central bank measures to reflate the economy.
To the City’s dismay, banks intend to pay as much as £6bn in bonuses this year – prompting the Treasury to launch its much-criticised 50pc “super tax” on bonus payments above £25,000.
The Cabinet Office would not comment on whether Mr Luder will be knighted in the New Year Honours list but stressed that “neither the Prime Minister nor his office has interfered with the list recommended by the independent nominations committee”. The City of London declined to comment.
Lord Mayor denied knighthood after backing bankers’ bonuses by Philip Aldrick, Daily Telegraph, 27 December 2009: https://web.archive.org/web/20150126051754/https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6896337/Lord-Mayor-denied-knighthood-after-backing-bankers-bonuses.html
What the Lord Mayor of London does is front neo-liberal lobbying efforts to funnel the world’s wealth to a tiny super-rich elite, the fact that nearly all Lord Mayor’s are honoured for this isn’t the real issue, the post itself needs to be abolished alongside other rotten borough practices including business votes.