Mark Field & the City of London’s Culture of Misogyny & Entitlement

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"

History Is Against The City Of London & Will Judge It Harshly

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"

Brexit ‘could benefit overseas development by curbing City of London’s power’

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’"

City of London VAT loophole will go to the European Court of Justice

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"

Charles Bowman Wants You To Trust The City!

The new Lord Mayor of London is Charles Bowman and he’s been saying repeatedly he wants the public to trust the City. If Bowman is serious about making public trust his priority while he’s the Lord Mayor, he should be reforming the undemocratic and anachronistic political system in the City of London. He could start by abolishing the business vote and the office of alderman, he is after all the first among equals in the latter. He also needs to address the question of vested interests and make sure firms like Keepmoat who have (or have recently had) top management sitting on the City of London council, aren’t given contracts by this local authority. Bowman needs to ‘Keep Keepmoat Out Of The City’.

Read more "Charles Bowman Wants You To Trust The City!"

Chris Hayward: Clockwork Tory

The skyscrapers Hayward wants to see built aren’t simply office space; they are as Alex Simpson observed in an article published on City Metric earlier this year ‘a monument to the city’s worship of finance’. As Simpson notes, developers are sometimes over ambitious and some projects fail. After funding dried up, The Pinnacle was left as a partially built shell and became known as The Stump. Perhaps Hayward is dreaming that the redevelopment of The Stump as 22 Bishopsgate might in some way parallel his future political career no matter how unlikely this seems. On his City website Hayward boasts of 30 years experience in local government and stresses that the last four were as a councillor for the utterly undemocratic business vote ward of Broad Street. Hayward has been forced to scale down his political ambitions from being an MP to being one of a tiny group of councillors ‘elected’ on no votes whatsoever; and it seems that the only way to get Hayward to scale down his support for overdevelopment in the form of schemes like Gerrymander Mansions is to smash the rotten City of London political culture in which he’s enmeshed.

Read more "Chris Hayward: Clockwork Tory"