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.

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Susan Pearson Gagging Row Update

Catherine McGuinness and those around her who are engaged in a crusade against democracy have ensured that virtually nothing has changed in terms of the feudal power dynamics and secrecy at the City of London council. Potential conflict of interest issues as regards Sir Michael Bear, James Thomson and Chris Hayward aired in the national press still require satisfactory answers, as do many other related questions that local residents want addressed – such the hiring of councillor James Thomson’s Keepmoat company to do housing repairs and the discussions of the Standards Committee on the free and subsidised use of council premises by men only masonic lodges. While Graeme Harrower’s proposals were an improvement on the status quo, for us they did not go nearly far enough in terms reforming the City of London. That said, even Harrower’s attempt at tiny improvements was obviously way too much for the enemies of democracy who control the council. The democratic reform required to enable residents’ voices to be heard is the glaringly obvious one of abolishing the business vote!

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