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| Party politics in the City of London | Party politics in the City of London |
| (about 1 hour later) | |
| By Iain Watson Political correspondent, BBC News | By Iain Watson Political correspondent, BBC News |
| Councillors say the City of London is different from other local authorities | Councillors say the City of London is different from other local authorities |
| The era of laissez-faire in the City of London is officially over. | The era of laissez-faire in the City of London is officially over. |
| With a scale of intervention in the financial institutions rarely seen in Europe since the Soviet era, government interference in the boardrooms of banks has not just become well-established but, these days, it is almost expected. | With a scale of intervention in the financial institutions rarely seen in Europe since the Soviet era, government interference in the boardrooms of banks has not just become well-established but, these days, it is almost expected. |
| But now Labour's foray into the very heart of the financial world is moving from the economic to the political sphere. | But now Labour's foray into the very heart of the financial world is moving from the economic to the political sphere. |
| The City of London Corporation is the oldest existing municipal authority in the world. | The City of London Corporation is the oldest existing municipal authority in the world. |
| Its titular head, the Lord Mayor of London - not to be confused with that more recent creation, the Mayor of London (currently Boris Johnson) - can trace his antecedents back to 1189. | Its titular head, the Lord Mayor of London - not to be confused with that more recent creation, the Mayor of London (currently Boris Johnson) - can trace his antecedents back to 1189. |
| Ancient tradition | Ancient tradition |
| Critics say the City has changed little since. | Critics say the City has changed little since. |
| It is unique amongst English local authorities not simply because it has retained some rather quaint offices and titles - there are 25 aldermen and 100 members of the 'court of common council' - but because it has maintained both the business franchise and a tradition of political independence. | It is unique amongst English local authorities not simply because it has retained some rather quaint offices and titles - there are 25 aldermen and 100 members of the 'court of common council' - but because it has maintained both the business franchise and a tradition of political independence. |
| We think the city should be run on behalf of all its workers and residents and not just an elite Pat Chapman Pincher | We think the city should be run on behalf of all its workers and residents and not just an elite Pat Chapman Pincher |
| But for the first time in their 100 year history, Labour are standing candidates on a party political platform in the City. | But for the first time in their 100 year history, Labour are standing candidates on a party political platform in the City. |
| The chair of City of London branch, Pat Chapman Pincher, justifies this break with tradition. | The chair of City of London branch, Pat Chapman Pincher, justifies this break with tradition. |
| "We are taking a very unusual step in fighting this election as a party," she says. | |
| "But that's because we think the City should be run on behalf of all its workers and residents and not just an elite." | "But that's because we think the City should be run on behalf of all its workers and residents and not just an elite." |
| But for all the rhetoric, it is not entirely clear that Labour are offering radical change. | But for all the rhetoric, it is not entirely clear that Labour are offering radical change. |
| For a start, they are putting up eight candidates when they would need 51 to take control of the council. | For a start, they are putting up eight candidates when they would need 51 to take control of the council. |
| Dual electorate | Dual electorate |
| Secondly, they have no immediate plans to reform or to abolish the business vote. There are 9,000 residents in London's Square Mile but 340,000 employees. | Secondly, they have no immediate plans to reform or to abolish the business vote. There are 9,000 residents in London's Square Mile but 340,000 employees. |
| There has been some tinkering at the margins with the system of election - most notably in 2002 - but a rather tortuous arrangement has emerged. | There has been some tinkering at the margins with the system of election - most notably in 2002 - but a rather tortuous arrangement has emerged. |
| Companies based in the Square Mile now appoint a number of voters to take part in the elections but those voters do not need to live in the City, merely to work there. | Companies based in the Square Mile now appoint a number of voters to take part in the elections but those voters do not need to live in the City, merely to work there. |
| Big companies of more than 3,500 staff are entitled to 79 votes; at the other end of the scale, small businesses with fewer than nine employees get one vote. Some believe it is time to sweep away old traditions in the financial district | Big companies of more than 3,500 staff are entitled to 79 votes; at the other end of the scale, small businesses with fewer than nine employees get one vote. Some believe it is time to sweep away old traditions in the financial district |
| What this means - in short - is that there are a total of 14,992 business voters compared with the 6,431 residents on the electoral register. | What this means - in short - is that there are a total of 14,992 business voters compared with the 6,431 residents on the electoral register. |
| But, in fact, some people simply do not get to vote at all - one in four of the electorate will nott have a choice because candidates in their wards have been returned unopposed. | But, in fact, some people simply do not get to vote at all - one in four of the electorate will nott have a choice because candidates in their wards have been returned unopposed. |
| One of the unelected members is Sir Michael Snyder - a senior partner in an accountancy firm and the former chair of the City's powerful policy and resources committee - which takes many of the key decisions. | One of the unelected members is Sir Michael Snyder - a senior partner in an accountancy firm and the former chair of the City's powerful policy and resources committee - which takes many of the key decisions. |
| His view is 'if it ain't broke, don't fix it'. | His view is 'if it ain't broke, don't fix it'. |
| He says he regularly attends consultative meetings with residents but that the City's focus should be global and not just local. | He says he regularly attends consultative meetings with residents but that the City's focus should be global and not just local. |
| "The City of London is unique - we have a focus on looking after that Square Mile which is primarily an international financial and business centre - and we do that in a non-partisan way," he says. | "The City of London is unique - we have a focus on looking after that Square Mile which is primarily an international financial and business centre - and we do that in a non-partisan way," he says. |
| "Primarily we are a business council for a business city." | "Primarily we are a business council for a business city." |
| Above politics? | Above politics? |
| And he has support from one of the few party political figures to represent the Square Mile. | And he has support from one of the few party political figures to represent the Square Mile. |
| Mark Field is the Conservative MP for the rather grandly named constituency of the Cities of London and Westminster - he was elected by residents, without any business involvement at the ballot box. | Mark Field is the Conservative MP for the rather grandly named constituency of the Cities of London and Westminster - he was elected by residents, without any business involvement at the ballot box. |
| But he says it would be a pity if party politics were to intrude into local - rather than national - elections and hopes his own party won't follow Labour's lead. | But he says it would be a pity if party politics were to intrude into local - rather than national - elections and hopes his own party won't follow Labour's lead. |
| "The City of London should be able to get on with governments of whatever colour," he believes. | "The City of London should be able to get on with governments of whatever colour," he believes. |
| The Square Mile is an anomaly but the idea we draw a line and forget our history would be a very sad day Mark Field, Conservative MP | The Square Mile is an anomaly but the idea we draw a line and forget our history would be a very sad day Mark Field, Conservative MP |
| "The Square Mile is an anomaly but the idea we draw a line and forget our history would be a very sad day." | "The Square Mile is an anomaly but the idea we draw a line and forget our history would be a very sad day." |
| And he is, to a degree, supported by one of the City's 9,000 local residents - Labour MP Richard Caborn who lives in the Barbican - the rather odd development that is part arts venue, part brutalist housing estate. | And he is, to a degree, supported by one of the City's 9,000 local residents - Labour MP Richard Caborn who lives in the Barbican - the rather odd development that is part arts venue, part brutalist housing estate. |
| He is delighted that his party is standing candidates for election, saying he thinks that will help make City government more transparent. | He is delighted that his party is standing candidates for election, saying he thinks that will help make City government more transparent. |
| But when challenged over the lack of radical reform, he says "we are proposing an evolutionary change not an revolutionary change". | But when challenged over the lack of radical reform, he says "we are proposing an evolutionary change not an revolutionary change". |
| "Bit-by-bit we are modernising - but we have to recognise the unique nature of the City," he adds. | "Bit-by-bit we are modernising - but we have to recognise the unique nature of the City," he adds. |
| So perhaps the parallels with the banking system are not too far off the mark. | So perhaps the parallels with the banking system are not too far off the mark. |
| Labour will seek to influence the Corporation of the City of London but not seek to control it - leaving much of the day to decisions to those who have always been in charge. | Labour will seek to influence the Corporation of the City of London but not seek to control it - leaving much of the day to decisions to those who have always been in charge. |