Abolition would actually be the best way to deal with the City of London, but even if that does not happen the business vote must be abolished and the number of councillors reduced in line with councillor-resident ratios in the rest of London. Around two councillors, down from 125 (100 common councillors plus 25 aldermen), would make things proportionate – although two councillors does not really justify the existence of a City of London council. On the basis of the figures Rogers reproduces in his report it is clear that City of London councillors need only a handful of votes to get elected and even Rogers admits the system can be easily manipulated by small cliques. This isn’t democracy, it is a sham and the reason why the City of London has quite rightly acquired the nickname the last rotten borough.Read more "Rogers Report On City Governance Says Our Council is ‘Sclerotic’, We’d Call It Toxic"
In a tweet about BLM protestors in Bristol (UK) taking a statue of slave trader Edward Colston from its plinth and throwing it in a river, influential City of London councillor Tim Hailes bleats: “Violence is not the answer.” In such a context violence would more usually be used describe behaviour involving physical force intended to hurt, damage, or kill someone, or some other living thing. But as a dyed-in-the-wool conservative, Hailes wishes to conflate attacks on property – in this case a statue – with attacks on people, hence his rhetorical use of the term violence. It says a lot about Hailes’s biases that he would deploy violence in this way but apparently not to describe the murder of millions in the black holocaust of the transatlantic slave trade.Read more "Tim Hailes And Unconscious Bias At The City of London Council"
Mark Field claims to have stood down as an MP over Brexit. While this may have been an issue for Field, his failure to mention his attack on Janet Barker and the impact this would have had on his chances of re-election when standing down from the Two Cities seat appears disingenuous. You’d think that once local Tories had got rid of a liability as huge as Mark Field they’d want to put him behind them, but a glance at the Two Cities 2019 general election notice shows that he proposed the current candidate Nickie Aiken. So Aiken comes with Field’s backing and blessing and may not have been the current Two Cities Conservative candidate without this help.Read more "Two Cities Tory Candidate Nickie Aiken, Disgraced MP Mark Field & Why You Can’t Trust A Conservative"
In Facebook posts and elsewhere Chuka Umunna has made the absurd claim that the Cities of London and Westminster constituency is ‘a global symbol for open, liberal values’. Who does this con artist think he’s kidding? While there are working class residents in the constituency, dominated as it is by the neo-liberal financial industry both in the City and through its interventions in Westminster (the undemocratic office of Remembrancer is merely one vehicle for this) the place is a global symbol of the vested interests and secretive world of wealthy elites; who do their dodgy financial deals in the eastern part of the constituency and often own property in its western parts. The Cities of London and Westminster is not a global symbol of open liberal values but rather a place infamous for exemplifying the money grabbing anti-values of the neo-liberal rich. Umunna was outed as a member of the ‘exclusive’ social network ASmallWorld years ago and as a result publicly apologised for describing ordinary people as ‘trash’ in a post intended only for his rich mates.Read more "Chuka Umunna, A Neo-Liberal Candidate For Those Defending Plutocracy in the City of London"
Bank of England governor Mark Carney has pulled out of a dinner in the Square Mile designed to foster relations between London and China. The City of London Corporation is holding the event at The Guildhall on 3 September. It will be attended by China’s ambassador to the UK, Liu Xiaoming, the Corporation’s policy chief Catherine McGuinness and lord mayor Peter Estlin. Carney says he pulled out due to a diary clash rather than in support of pro-democracy protestors in Hong Kong. The US vice president and notorious bigot Mike Pence will speak at a black tie dinner, hosted by the City of London Corporation, at The Guildhall on 5 September. The City of London Lie Machine pumps out propaganda claiming the Corporation supports LGBT rights but its actions speak louder than its words….Read more "City of London Rolls Out The Red Carpet For Reactionaries As Liu Xiaoming & Mike Pence Are Feted At The Guildhall"
Mark Field has long been known as the Invisible Man because of his unwillingness to engage with his constituents. When his majority was slashed in the 2017 general election he suddenly became slightly more visible and even vaguely interested in the issues that those who were entitled to vote for or against him wished to raise with ‘their’ MP. That said, after Field brutally assaulted Greenpeace activist Janet Barker last week and a video of the incident went viral, several media outlets still carried headlines that included the question “Who Is Mark Field?” However, the media don’t not know this MP the way his constituents don’t know him, because his aloofness and inaccessibility has long been a talking point among us. Until last week it seems Field had been largely operating beneath the radar of the press throughout his stint as an MP. That is apart from a headline grabbing 2005/6 love affair with fellow Tory MP Liz Truss (before she was elected to Parliament) and which ended with the first wife of this self-declared upholder of traditional values and civility divorcing him. The discrepancy between Field’s words and actions are neither failings nor quirks, they are embedded in the City of London culture of greed and entitlement that the MP is more effectively wedded to than any of his spouses.Read more "Mark Field & the City of London’s Culture of Misogyny & Entitlement"
The City of London has been playing a confidence trick on people in the UK and across the world for years with its claims of generating wealth for everyone when it actually impoverishes most of us. Should the City’s financial power dry up it will no longer be able to keep up the charade of pretending to benefit anyone beyond a tiny rich elite, nor fund its glossy and expensive PR campaigns on behalf of the wealthy few. It’s high time the City of London as we know it became history and this local authority was replaced with democratic institutions. Right now everything is coming together very nicely to make such change not just possible but likely.Read more "History Is Against The City Of London & Will Judge It Harshly"
The City of London’s “charm offensive in the race for renminbi” has paid off, with London daily trading in renminbi now exceeding that in euro, the Financial Times reported. But this is only half the story, which is also about life after Brexit for Britain, and about the nation’s role in China’s “Belt and Road Initiative”. Some have suggested that post-Brexit Britain could become “another Singapore” by modelling itself on successful island economies. But in reality the City of London may be in process of becoming another Hong Kong. The key is that both Britain and its former colony are situated at either end of the Belt and Road project.Read more "City of London & Hong Kong Have More In Common Than Their Democratic Deficits"
The City of London is the largest financial centre in the EU and one of the biggest facilitators of tax havens, tax avoidance and so on. What will Brexit mean for financial sector regulation, for our efforts to, for example, close down tax havens or stop tax-dodging by multinational corporations? How much will the EU take aim at the City of London after Brexit, and what does that mean for UK actors trying to influence those discussions? The EU may try to minimise the role of the City of London and all the problems it causes in the global economy. If the EU uses its power to cut off access to the EU financial sector from the UK, it could have a major impact on the UK’s ability to continue to be one of the leading global financial sector players.Read more "Brexit ‘could benefit overseas development by curbing City of London’s power’"
While tax rates are mainly set at national level, Brussels tries to restrict how far governments can go in lowering VAT rates to lure business, while allowing countries to introduce specific carve-outs. Brussels opened “infringement proceedings” against the UK on the issue last year, following talks between EU and UK officials dating back to 2015. The UK government declined to comment but officials have previously said the VAT treatment was “vital” to ensure the City remained a world-leading hub for commodities trading.Read more "City of London VAT loophole will go to the European Court of Justice"