The City’s representational role for the finance industry brings with it the cost of it failing to perform its representational role for those who live in its local authority area; we seem to be viewed as an inconvenience. Much needed democratic checks on the City’s neo-liberal propaganda activities are thwarted by a council election system dominated by business votes. The City needs reforming and this should begin with the abolition of business votes. One person, one vote, is the basis of all truly democratic systems. Those awarded business votes in the City get to vote both there and where they live. Most people having one vote, with a handful getting two, is fundamentally undemocratic.Read more "Mark Boleat On The City & Anti-Democractic ‘Representation’"
The City wants hot money looted by corrupt elites from outside the overdeveloped world to pour into London and other global centres, where it can be invested in property and thus hyper-inflate the housing market. As a result rents and mortgages get puffed up, and so do potential profits for financial capital as debt increases. As the last crash showed, the periodic failures of this system are often the means by which yet more wealth is transferred from the poor to the rich. The City and its offshoots such as The Housing & Finance Institute want London and many other urban centres blighted with ghost homes, since this forces up house prices and leads to ordinary people overspending on necessities and in debt.Read more "The Denizen & The Plutocracy’s Programme For Growing Inequality"