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    Elections[ edit ] The City has a unique electoral system. Most of its voters are representatives of businesses and other bodies that occupy premises in the City. Its ancient wards have very unequal numbers of voters.

    In elections, both the businesses based in the City and the residents of the City vote. The City of London Corporation was not reformed by the Municipal Corporations Actbecause it had a more extensive electoral franchise than any other borough or city; in fact, it widened this further with its own equivalent legislation allowing one to become a freeman without being a liveryman.

    Inthe City had a population of aboutbut increasing development of the City as a central business district led to this falling to below 5, after the Second World War. Inthe business vote was about 24, greatly exceeding residential voters. Uniquely for city or borough elections, its elections remain independent-dominated. The business or " non-residential vote " was abolished in other UK local council elections by the Representation of the People Actbut was preserved in the City of London. The principal reason given by successive UK governments for retaining this mechanism for giving businesses representation, is that the City is "primarily a place for doing business".

    By contrast, opponents of the retention of the business vote argue that it is a cause of institutional inertia. Under the new system, the number of non-resident voters has doubled from 16, to 32, Previously disenfranchised firms and other organisations are entitled to nominate voters, in addition to those already represented, and all such bodies are now required to choose their voters in a representative fashion.

    Bodies employing fewer than ten people may appoint one voter; those employing ten to 50 people one voter for every five employees; those employing more than 50 people ten voters and one additional voter for each 50 employees beyond the first The Act also removed other anomalies which had been unchanged since the s.

    The Temple[ edit ] Inner Temple and Middle Temple which neighbour each other are two of the few remaining libertiesan old name for a geographic division. They are independent extra-parochial areas[32] historically not governed by the City of London Corporation [33] and are today regarded as local authorities for most purposes [34] and equally outside the ecclesiastical jurisdiction of the Bishop of London.

    They are within the boundaries and liberties of the City, but can be thought of as independent enclaves. They are both part of Farringdon Without. It owns land beyond its boundaries, including open spaces parks, forests and commons in and around Greater London, including most of Epping ForestHampstead Heath. The City has its own independent police force, the City of London Police —the Common Council the main body of the Corporation is the police authority.

    Founded init is located at Smithfieldand is undergoing a long-awaited regeneration after doubts as to its continuing use during the s. The City is the third largest UK patron of the arts. It oversees the Barbican Centre and subsidises several important performing arts companies.

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    The London Port Health Authority, which is the responsibility of the Corporation, is responsible for all port health functions on the tidal part of the Thamesincluding various seaports and London City Airport. The City's flag flies over Tower Bridge, although neither footing is in the City. However the boundaries of the City of London no longer coincide with the old city wall, as the City expanded its jurisdiction slightly over time.

    During the medieval era, the City's jurisdiction expanded westwards, crossing the historic western border of the original settlement—the River Fleet —along Fleet Street to Temple Bar. The City also took in the other "City bars" which were situated just beyond the old walled area, such as at Holborn, Aldersgate, Bishopsgate and Aldgate.

    These were the important entrances to the City and their control was vital in maintaining the City's special privileges over certain trades. Dragon statue on the Temple Bar monument, which marks the boundary between the City of London and City of Westminster.

    Most of the wall has disappeared, but several sections remain visible. A section near the Museum of London was revealed after the devastation of an air raid on 29 December at the height of the Blitz.

    Other visible sections are at St Alphageand there are two sections near the Tower of London. The River Fleet was canalised after the Great Fire of and then in stages was bricked up and has been since the 18th century one of London's " lost rivers or streams ", today underground as a storm drain. The boundary of the City was unchanged until minor boundary changes on 1 Aprilwhen it expanded slightly to the west, north and east, taking small parcels of land from the London Boroughs of WestminsterCamdenIslingtonHackney and Tower Hamlets.

    The main purpose of these changes was to tidy up the boundary where it had been rendered obsolete by changes in the urban landscape. In this process the City also lost small parcels of land, though there was an overall net gain the City grew from 1. Most notably, the changes placed the then recently developed Broadgate estate entirely in the City.

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    The City's administrative responsibility there had in practice disappeared by the mid- Victorian period as various aspects of metropolitan government were extended into the neighbouring areas. Today it is part of the London Borough of Southwark. The Tower of London.
    Share this article Share Morrisons shares were down more than 10 per cent at one point. The perception has changed and there is a new price norm. The cost of living squeeze saw millions of middle-income shoppers switch to the budget chains — and many have stayed.

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    Sales at Morrisons are down by 3. The rules have changed and we must change too. It is absolutely critical that we begin winning again in our core supermarkets. To do that we must compete on price. A snapshot survey of prices at Morrisons and Aldi yesterday, suggests it will have to make significant reductions to match its German-owned budget rival.

    Morrisons is to press ahead with the roll-out of its online shopping service and the opening of small convenience stores in a bid to catch up with its major rivals, who have cashed in by offering home deliveries and filling high streets and petrol stations with smaller stores. David Cumming of Standard Life, who is responsible for investing billions of pounds of pension funds, said: If they are relatively expensive — and the customers know it — they need a price reset, or price war, whatever you want to call it, before they can move forward in terms of sales.

    Lidl won own brand range of the year, while Aldi was named retailer of the year. Morrisons expanded under the watch of Sir Ken Morrison, son of the firm's founder Morrisons is one of the country's oldest supermarkets, having started trading as a market stall in Bradford, West Yorkshire in However, it did not become a major player on a national scale until a decade ago, when it took over the Safeway supermarket chain. The company, whose full title is Wm Morrison, was named after its founder William Morrison, who sold egg and butter in Bradford's Rawson Market.

    Its major expansion came under the founder's son, Sir Ken Morrison, who took over in at the age of 21 and remains president of the company. He opened Bradford's first modern-style grocery store, and in floated the firm on the London Stock Exchange. InMorrisons expanded beyond its home region by buying Safeway and taking over its stock of nearly stores. The company now operates more than branches around the UK, and is the country's fourth-biggest supermarket with a market share of around 11 per cent.

    However, it has run into difficulties in recent years after being crowded out by discount retailers and the rise of online shopping. Advertisement Share or comment on this article:
    After all, it's one of the few things that can make one feel at home in a country with fairly strict laws on land ownership, employment and business creation for foreign nationals.

    But there's a bucket load of things you need to consider before signing on the dotted line for your slice of Thai pie. Now, before I get started, let me just make it clear who this post isn't for.

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    If you don't give a monkey's bottom whether you see a return on your money, or whether you're being blinded by marketing ploys, or whether your condo was built by builders without any building qualifications; stop reading now — because you're going to buy a condo regardless of my advice, and probably a speedboat, too.

    Now that we're clear, let's start! How Big is the Rabbit Hutch? The future of condo living in Thailand? People pay over the odds for convenience, and often end up making sacrifices that later down the line become very important and possibly regretful. Just a few weeks ago, a friend and I went to see a condo in Ekkamai, Bangkok.

    The said condo was a 2-bedroom, approximately 60 sq.

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    During the viewing, the landlord showing us around mentioned she had other condos, one of which was near On Nut station. It was a 41 sq. We'd already turned our noses up at the small size of the one we were viewing, but 41 square metres! How do you fit two bedrooms in that?

    The lady went on to explain the market and how developers were increasingly making condos near stations smaller to maximise profits and squeeze buyers. The scarcer the land to build on the higher the blocks will go and the smaller the apartments will become. But here's the crazy thing: The condo we were viewing was only 6 or 7 minutes walk from the station. If we were buyers, the difference could have been as much as 1.

    Moreover, I know you're excited about living in Thailand or owning a holiday rental, but as we all know, Thailand has a way of blinding us to certain realities, and condos is one of those.

    Make sure you do the math. What often seems cheap in Thailand isn't all that cheap when you make a market comparison. Compare how much you are paying per sq. Factor in the relative price. Also consider the long-term ramifications: Will you and your partner be getting under each other's feet all the time in such a small place?

    It's big enough now but what about when the little one is a few years old? If you're a singleton, is it big enough to rent a spare room or have people over to stay while their on holiday? It looks spacious on the plans but how much stuff have you got and how much are you likely to accumulate while living here?

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    Won't you want a bigger balcony to sit out on? Do you really want to look at that main road every day? Having a gym upstairs is great, but will those 10kg dumbbells and two bikes really suffice? The swimming pool looks good now, but how often is it going to be cleaned and serviced? Humour aside, the build quality of condos in Thailand is appalling.

    I remember a friend visiting from the UK sometime ago. A roofer and plasterer by trade, he was gobsmacked by what he observed on the building site opposite his hotel. I don't blame the builders, though. In fact, I admire them. The majority have no formal building education to speak of, the tools they are given to do the job are inadequate, and their lives are treated with such contempt that when it comes to safety standards and wages it's a wonder they manage to make it from one job to the next.

    But let's get to the ethics of the Thai construction industry later. The fact is, the large majority of condos experience build problems in the first few years of operation. If you're lucky you'll escape with the simple stuff: Don't get me wrong, nearly all condo buildings stand the test of time except the one above, of course in that they don't fall down.

    Generally, however, they do require ongoing maintenance work that you wouldn't expect to do on a new property back in your home country. Of course the advantage of renting is that this cost is picked up by the owner of the block or the individual condo you are renting privately. The question is this: Have you researched the materials being used to build the condo you want to buy? If not, why not? The fact is, if you're planning on paying 2.

    And you know what, they're right. If, that is, you are Thai and bought off plan with a heads-up from the developer. Developers require ten percent of the condo price down at signing, which can be paid in installments over one to two years. The plan in this scenario is to do an off-the-books sale of the purchase contrast to a longer-term investor or sucker once construction gets underway. And because it was off the books, they avoid taxes or much scrutiny.

    Such opportunities are not as open to westerners. You have to be connected, and Thailand is very proud of the fact that it was never colonized by any European power. That means no foreigner is going to penetrate their inner circle. Nomad Capitalist Ask yourself this simple question: I will tell you: Quite simply because — considering the points made above — these twilight investors are prepared to take a hit on a few for the sake of keeping the market artificially inflated, thus enabling their development investments in off-plan condo buildings that get flipped off the books at double-bubble no pun intended to flourish.

    Call me an alarmist, but one day it will go pop, big time. Is it Really a Good Investment? I nearly did it once. Five years ago, a friend and I slapped down a deposit on a condo in Koh Samui. It was to be a holiday home-cum-part yearly retreat. We justified our spontaneous purchase on the continual growth of the island's economy, and the fact that friends could rent it when they came out for a holiday. Sadly my friend got home, took off the rose-coloured glasses and figured that the cash would be safer in an ISA.

    In some ways I wish we'd gone ahead, not least because I'd have a cool little escape in Samui and because market prices have doubled since then. However, the reality is that we probably wouldn't have been able to resell it anyway. Not to mention that I can book a decent hotel on a deal from Agoda or Hotel. Think about this scenario… For example: When you buy a property in the UK, even if the market crashes post buy, if you hold on for 10 years, you'll still end up getting more than you paid for it, and in most cases make a profit.

    Moreover, you will be able to rent the property and make a good yield, regardless of resale market conditions. The crash and climb of the 90s and of the mid s has proven this to be true. This is not the case for condos in Thailand. As mentioned above, the money is in knowing the man who knows the man; investing off plan before the project is announced and flipping off the books. Buying a condo to rent out for profit is risky at best, unless of course you have a fixed year agreement with a multinational company that wants to rent your place for staff, or a similar scenario.

    Condos for rent are two a penny. The sheer abundance of choice makes it a renter's market. And while your condo might be a popular rent when it's brand new, when ten new blocks go up in the same square mile over the next few years, you'll have to drastically reduce your rental price to compete with the fancy new kids on the block.

    Once your air-con unit starts looking shabby and the pigeons have done their worst to the exterior of the property, your condo is way down on the list of units would-be renters favour. This huge amount of choice, combined with inflated pricing, empty units and huge borrowing from the banks, is all part of the the predicted bubble. Of course, there are exceptions.

    But I don't have that sort of cash to shed out, do you? The sums just don't add up. There's not enough money to made to take on the risk of an investment. Let's say I buy a 3MB 1-bedroom condo. Let's say it's fairly near a BTS station in Bangkok and I get 20k a month for it, and manage to rent it without it ever being empty.

    It would take me And what are the chances of always having a tenant in there? And when that And if I did get 3MB back on it, the value of that money will have depreciated over the previous decade, anyway.

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    Oh, and you have to pick up all the maintenance fees, too. I'll never forget the time I accompanied a condo-buying friend to a showroom in Tong Lor, Bangkok. We were given free smoothies and chocolates just for looking around. It was five star treatment that made you feel like you'd won the lottery — and buying one of these condos is the missing piece of your life. We were showed round a beautifully decorated condo.

    It was small but felt so cosy and looked really well-finished. Then it struck me to ask the sales lady:

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