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.
We have previously addressed the opacity of a couple of council register of interest entries. Here we will deal with the same issue as regards Giles Shilson, a councillor for Bread Street ward. Despite the fact that he would appear to be a high flying freemason, Shilson failed to make an appearance in a recent Barbican Talk discussion that among other things attempted to work out the percentage of councilors who are masons – we suspect the figure mooted there is an underestimation. That Shilson is a freemason was not apparent to the City residents involved in this discussion because the way this is indicated on his register of interests is not transparent to many of those who do not belong to The Brotherhood, and will be seen by some as disingenuous.Read more "Giles Shilson, Freemasonry & Democratic Transparency at the City of London Council"