The City of London elections are unique in that both residents and businesses have the opportunity to vote. In addition to the 8,600 residents, businesses in the Square Mile can register voters based on the size of their workforce, with some companies holding tens of votes. In an election were some candidates are elected with only double digit vote counts, and given business electors make up about two-thirds of the electorate, companies have a powerful say in how the City is governed.
With the City’s post-pandemic recovery seeing a 25% increase in workers over the past five years, this election is pivotal for the future of the Square Mile and its global competitiveness. As the election plays out, it will be crucial in striking a balance between commercial interests and the concerns of local residents, influencing the City’s trajectory for years to come.
While many senior members of the City of London Corporation are standing unopposed in their wards, the rise of Labour candidates signals a potential turning point in the Corporation’s traditionally non-partisan environment. Labour has fielded thirteen candidates across five of the twelve contested wards, a clear signal that party politics may begin to play a larger role in the City’s governance.
Labour’s growing influence within the Corporation may also prompt a pushback against the Corporation’s historic focus on business interests, with critics arguing that this has long overshadowed the needs of local residents. Coupled with a Labour Government, traditionally more sceptical of this democratic oddity, the Corporation will want to establish the benefits of the traditionally business-led approach that has defined the City. The growing influence of party politics could lead to increased scrutiny of development projects, particularly in areas like housing, forcing a reassessment of priorities that have long been ingrained.
Additionally, as Shravan Joshi steps down from his role as Chair of Planning after his three year term ends, there is some uncertainty about who will replace him. The new leadership will need to navigate a delicate balance between fostering commercial growth, which is key to the City’s ongoing recovery and competitiveness, while also addressing the growing demand for sustainable development and community benefit. In an environment where development projects must meet both economic and social expectations, the choice of Joshi’s successor will be pivotal in determining the direction of planning in the City for years to come.
This election is particularly critical for one of Joshi’s most obvious successors, Graham Packham, the vice chair of the planning and transport committee, who will be fighting to retain his position in Castle Baynard, one of the most contested wards and key battlegrounds of the election. With a remarkable nineteen candidates standing, including seven Castle Baynard Independents, the competition will be fierce. This means the outcome in Castle Baynard is too close to call. The result will not only influence the balance of power within the Corporation but may also shape the future direction of planning decisions that will impact the City’s growth, development, and long-term sustainability.
Other interesting wards to watch out for are those with Labour candidates running – will they be able to seize control of whole wards? What impact will the residential votes in these areas have on the outcome? The outcome will influence the future direction of the City as a whole.
Ballots will close at 8pm tonight, and with wards where the turnout may be as little as 100 votes, we can expect results soon after. Stay tuned for more insights from JBP’s property team, and for bespoke advice on what next for your projects, please get in touch.