A significant part of the financial City lies outside the City’s boundaries: banks and professional services firms in Canary Wharf, and fund managers in Mayfair. There are no business voters in these places, or in any other financial centre, like New York. No-one complains that the absence of business voters in these places affects business. So why are business voters needed within the City’s boundaries?Read more "Graeme Harrower’s City of London Corportation Xmas Quiz"
Disquiet over how the City of London council is able to operate because it is 80% elected on the business votes of non-residents and thus requires no democratic mandate from local people on anything it does, continues to rise. As Graeme Harrower notes, this is not an issue that is going to go away, and in our view not until there is democratic reform of this local authority. The range of voices speaking out against the business vote system does demonstrate that this is a burning issue with regard to democracy and not a party political matter.Read more "Graeme Harrower & City of London Residents Turn Their Fire On The Business Vote System"
City residents will have recently had a copy of the June issue of City View: The Magazine of the City of London Corporation drop through their letterbox. The whole of page 3 is dedicated to the proposal/done deal to relocate three ‘historic’ markets to a new site in Dagenham. Funds are being raised for this move and other projects on the basis it is a done deal, while at the same time City residents and other stakeholders are told this ‘proposal’ is the City’s preferred option and they are being consulted about it. This, like all City consultations is a PR exercise in rubber-stamping a decision that has already been made.Read more "City of London ‘Consultations’ Are A Sham Designed To Rubber Stamp Decisions That Have Already Been Made"
The Crossrail deal struck between the Corporation of London when it saw headed by ‘Sir’ Michael Snyder and the 2007 Labour government highlights the blurring between the corporation’s two roles, that of a local authority with public funds and a lobbying body with even larger private funds. An internal corporation document presented to councillors in October 2007 stated that, “there would be a number of pre-conditions to be satisfied before funding was released”. One of these was “a net real terms improvement in government funding of the City Corporation”. The corporation wanted the government to reinstate a fund known as the “City Offset” “The City Offset was re-instated… in 2007 following representations from the City of London Corporation,” said a spokesman for the Department for Communities and Local Government… This means the corporation could end up recouping all of the money it is contributing to Crossrail. As the internal corporation document states, if the extra government funding to the corporation continued for fifteen years, “the eventual adverse impact on our asset base would be £15m or less”. Given that Crossrail inflates the value of lands owned by the corporation adjacent to it and the extra funding could continue for more than 15 years, the City potentially stood to make a great deal of money from this deal.Read more "‘Sir’ Michael Snyder, The City of London & Crossrail"
Either David Spittles’ is an idiot or he’s misleading his readers, or both! Living inside City of London boundaries has never boiled ‘down to a Barbican apartment or a crash pad conversion in an outdated commercial building’. Spittles even mentions the Golden Lane Estate, which is very literally next to The Denizen site and like it just inside City of London boundaries; walk across Golden Lane and you’re in Islington. Two minutes down Fann Street from The Denizen is Blake Tower, recently converted from student accommodation to luxury flats. Many of these new ghost homes have yet to sell but they’re in the City of London. A little to the east is The Heron AKA Milton Court, which contains yet more unsold buy to leave flats. These are just a few of the developments Spittles overlooked in the immediate vicinity of what he calls The Denizen and we call The Turd, there are many more around The City.Read more "Right-Wing Rag Steps In Its Own PR Spin About Taylor Wimpey’s The Turd Development"