1. We aim to restore the reputation of the City of London
The City of London enjoys many unique privileges and therefore has a responsibility to make a significant contribution to the common good – throughout London, the United Kingdom and worldwide. It has a vital role in protecting and increasing our national and global wealth.
We will promote commerce within the City on the basis of its ability to serve its customers and address the needs of wider society.
2. The City’s reputation can only be secured on the basis of good practice
The livery companies have always played a key role in regulating trading standards within the City. We believe the City of London Corporation should likewise seek to ensure that all practitioners within its borders, particularly those involved in financial services, act in good faith and in the long-term interests of their customers, avoiding or declaring conflicts of interest.
We wish to encourage all forms of commerce that are socially useful, paying due regard to their impact on the stability of the financial system, to wider society and to the environment they may affect. We will not be afraid to seek reform of any practices which fail to live up to the highest standards, especially in companies which elect the Council.
3. The City of London Corporation must also hold itself to the highest standards
We aim for democratic transparency throughout the City Corporation. Therefore, we will publish the City Cash account and open up all other elements of the income and expenditure of the City to public scrutiny and deliberation. We believe that this is unavoidable following the recent costs to all the citizens of the UK as a result of banking failures, mismanagement and improper practices. The Freedom of Information Act should be voluntarily applied to all the Corporation’s activities.
4. With Rights Come Responsibilities
We believe the City must not take its privileges for granted. The Corporation must recognize its responsibility to the communities of Greater London and the South East without whom the City cannot function – in effect, the City relies on daily ‘guest workers’ provided by all the surrounding boroughs. We endorse the use of City resources to help and support institutions and initiatives for the citizens of these boroughs.
5. Use Your Vote
The City of London’s voting franchise is unique. We encourage all those eligible to register to vote, whether residents or those granted a vote through their workplace. We remind all employers that those appointed voters must “reflect, so far as is reasonably practicable, the composition of the workforce” in such a way that is “open and clear”. We believe that if this legal requirement is actively followed it will encourage a wider culture of debate and engagement with all those who work in the City which will in turn benefit the entire country.