New Lord Mayor of London Emphasizes Role’s Substantive Nature

On Saturday, the City of London is set to experience a halt in activity as thousands participate in the yearly Lord Mayor’s Show. Leading the three-mile procession, within an ornate horse-drawn state carriage that has been in use since 1757, will be Alastair King, the City’s recently appointed Lord Mayor. Mr. King, the 696th individual to assume this position, stated that the traditional red robes, feathered hat, and golden chain were not his motivations. He affirmed, “There is no way I’d be doing this role if it was a largely ceremonial role. I’m at the top of my career… I’ve got my own businesses which I have set up – I would not be stepping away from it all.” The City of London first had a mayor in 1189, and this elected position has evolved throughout the centuries, especially as the Square Mile transformed into a significant financial hub. Mr. King elaborated, “You’re the global ambassador for the United Kingdom’s financial professional services and effectively trying to create as many British jobs in those sectors as you possibly can.” Consequently, the incoming lord mayor intends to dedicate almost a third of his term to visiting “high growth markets” internationally, fostering British trade, and urging UK companies to explore new global business opportunities. He stated, “We’re world leaders in insurance, in maritime, in legal, professional services, all the rest of it. “We are really good at what we do and I think it’s wonderful to be able to go out there and bang the drum about it all.” Additionally, trips are scheduled throughout the UK, as the lord mayor’s responsibilities extend beyond representing only those located in the City. He clarified, “Effectively you’re the titular head for the 2.4 million people who are working in financial professional services and two-thirds of those people are based outside the south-east of England.” Mr. King views the position as one of Britain’s assets for promoting its financial services. He noted that “Abroad, it is a big thing” and “people love the idea of seeing the lord mayor.” He added, “There are some peculiarities to the role [with the ceremonial robes], but it just differentiates it and it sticks it in people’s mind.” He also mentioned that the capital’s highly diverse communities are an additional benefit, stating that “just no other city has that.” He elaborated, “When we’re trying to do trade, for instance in Indonesia, we’ve got a big London-based Indonesian population and therefore it’s easier to do things because there are people there who understand the culture, who speak the language, who are already here.” Mr. King had previously indicated his intention to dedicate his year in office to advocating for a theme of “growth unleashed” through “promoting a revitalised, resilient, and risk-ready City.” Despite this potentially appearing challenging as analysts forecast limited growth for the UK economy in the coming years, Mr. King maintains an optimistic outlook for the next 12 months. He stated, “There are many reasons to be cheerful. There are obviously some concerns out there like geopolitics…. but interest rates are coming down, the cost of borrowing’s coming down around the world and particularly in Britain it’s a very robust jobs market.” He believes Brexit has had minimal impact on the City, contrary to predictions of significant damage. He noted, “If you look at the figures in relation to how many people worked in the Square Mile before Brexit and the figures now, it’s hugely increased.” Furthermore, he expressed no concern regarding the election of Donald Trump. He commented, “The city had a good relationship with the last Trump administration, and I also think the City was ready for all the eventualities.” He added, “We prospered under the last Trump administration, we’ll prosper under this one.” Mr. King stated his desire for his year in office to be evaluated based on whether “people feel that the City’s firing on more cylinders in a year’s time than it is now.” However, preceding these matters is the televised procession, which will include approximately 7,000 participants, 250 horses, and 150 floats, along with the horse-drawn state carriage. The new lord mayor remarked on the centuries-old vehicle he will be using, saying, “It is actually comfortable. It’s not bad at all.” He concluded, “It’ll be great fun. I only hope it doesn’t rain.” The Lord Mayor’s Show is scheduled for broadcast on BBC One starting at 10:45 GMT, and will also be available for viewing on iPlayer. For the best of BBC Radio London, tune into Sounds, and follow BBC London on Facebook, X, and Instagram. Story ideas can be sent to hello.bbclondon@bbc.co.uk. Copyright 2024 BBC. All rights reserved. The BBC disclaims responsibility for the content of external sites. Information regarding their external linking policy is available.