Report of the City Remembrancer.
Members received a report of the City Remembrancer relative to a Deep Dive of CR10 Adverse Political Developments. The Remembrancer drew attention to the UK Government’s response to the pandemic. He noted the likelihood of there being a post pandemic government inquiry and also the government’s manifesto commitment to undertake a constitutional review. The prospect of the local government arrangements in London being subject to critical examination as part of that process could not be discounted.
A Member queried why the Brexit risk had a low rating. The Remembrancer advised that the timeline for the risk on the City as a financial centre being realised was not an immediate one, assuming it arose. The risk would become apparent over years as a process of leaching took place. This was beyond the period for which a meaningful assessment of risk could be assessed. He had taken two parliamentary terms as a working model.
RESOLVED, that – the report be received and its contents noted.