Hear ye! Hear ye! It’s time to re-elect the Lord Mayor of the City of London
The Lord Mayor of the City of London election is on 30 September.
You might be forgiven for thinking the position is ceremonial. The term ‘lord mayor’ brings with it connotations of big gold-chains, tricorn hats, feathers and long robes. You probably see them once a year at the town parade.
Actually though, the Lord Mayor of the City is rather more important, and influential, than that.
The position is ancient, having first been established (in any meaningful official context) in the year 1189. It is one of the oldest continuously elected civic offices in the world.
The person who holds the position, elected for one year at a time, is responsible in an ambassadorial role for financial and professional services in the UK. But they are also elected as leader of the City of London Corporation.
The City has, by curious accident of history, its own kind of government called the City of London Corporation that represents not just residents but businesses that preside within the Square Mile. This is an ancient political structure that has origins in the Saxon era when London became an economic powerhouse (having become more or less abandoned after the Romans left in 410 CE).
In terms of ‘rank’ the Lord Mayor of the City is second only to the Sovereign (i.e. King Charles) within the confines of the City. The City has a certain level of independence from the wider government structures of London, although in practice it is routinely treated as a borough and the Lord Mayor works alongside the London Mayor in various capacities.
As for the election – the current incumbent is Michael Mainelli, a well-respected scientist and economist and the first American-born person to hold the office. His successor, the 696th lord mayor, will take office on 10 November.
If you’re thinking of running for mayor, you might want to reign your expectations in for now. You can only run for the position if you have been Sheriff of the City, and the holder is generally (since 1435) picked from among the serving aldermen or alderwomen.
The whole thing is complex, archaic and ritualistic, as such traditions often are. But my view is these things seem to have worked okay for a long time, so why disrupt it now? Indeed, some argue the power of rituals is quite important.
If you’d like to find out more about the arcane process and its history here’s an excellent resource.
What’s coming up in September 2024?
As for what else is happening in September, it’s real business as usual as we come back from the summer holidays.
We’ve got two competing awareness weeks starting on 9 September, UK Savings Week and Pension Awareness Week.
ONS UK unemployment and wages fall on 10 September – a busy day that also sees HM Treasury’s deadline for submitting Budget representations and a Resolution Foundation event: The Chancellor’s options in the upcoming Budget. Both certainly presage an important upcoming Budget in the following month.
The ONS UK inflation figures are on 18 September, one day before the latest Bank of England Monetary Policy Committee (MPC) rate decision.
Finally, 23 September is the second anniversary of the Liz Truss/Kwasi Kwarteng mini-Budget. I look forward to the articles reminiscing the memories…
All the best wishing you a pleasant Autumn from all of us here at MRM and Mouthy Money.