LONDON BRIEFING May 2005

News this month

Head to head

An intriguing battle is being fought in the East End constituency of Bethnal Green and Bow ahead of the general election on May 5th. It pits the Labour Party incumbent, Oona King, against George Galloway, a candidate of the anti-war Respect coalition. The two challengers differ dramatically in style: Ms King is black and Jewish, and has been pegged as the embodiment of youthful, multicultural New Labour. Mr Galloway is a fiery Glaswegian with a fondness for Cuban cigars.

Having won a strong majority in 2001, Ms King would appear to be a shoo-in. But Mr Galloway—expelled from Labour in 2003 for opposing the Iraq war—is hoping to capitalise on anti-war sentiment among the constituency’s many Muslims. At hustings on April 10th, Mr Galloway accused Ms King of voting “to kill a lot of women in the last few years”. Ms King hit back by reminding the audience that Mr Galloway visited Saddam Hussein in 1994, and greeted him by saying: “I salute your courage, your strength, your indefatigability.”

Of the 73 other parliamentary seats in the capital, just a few are expected to change hands; among these are Orpington (from Conservative to Liberal Democrat) and Brent East (from Liberal Democrat to Labour).

Exodus

Hassidic Jews—in their long black coats and wide-brimmed fur hats—have been a common sight on Stamford Hill’s streets for over 75 years. But this could change if the ultra-orthodox community goes ahead with an ambitious plan to relocate. The push factor is a lack of affordable homes and facilities. The community, which together with the neighbouring area of South Tottenham now numbers around 25,000, is expanding at an annual rate of 8%. Strict observance of religious laws means that members must live close to special schools, synagogues and kosher shops. But there is simply not enough room to build new facilities or houses.

Two areas under consideration are the Thames Gateway east of London (earmarked by the government for thousands of new homes), and Milton Keynes, a “New Town” created in 1967. But the community is not being welcomed with open arms: politicians in Milton Keynes have voiced fears about “ghettoisation”. Ken Livingstone, London’s mayor, has stated he is keen to keep Stamford Hill’s Jews within the city’s boundaries.

On a roll

London is Europe’s hedge-fund capital, according to a new report from EuroHedge, a newsletter covering the investment funds. The report found that the value of hedge funds managed from London more than tripled between 2002 and 2004, from $61 billion to $190 billion. Today, almost three-quarters of Europe’s estimated $256 billion (£137 billion) in hedge-fund assets are managed out of the capital. This is a sliver of the global total, but Britain is catching up with America, the market-leader.

Surprisingly, many of London’s hedge funds are not based in the City or Canary Wharf but in ritzy St James’s in the West End. The area’s genteel character, proximity to London’s most expensive family houses, and its swanky shops, restaurants and bars are some of the reasons why it appeals to fund managers.

Cross and bothered

News that Charing Cross hospital in Hammersmith might have to close sparked a political row on April 11th. With 627 beds, Charing Cross is the largest hospital in west London and an important teaching centre for Imperial College. Despite being a sprightly 32 years old, its building suffers from structural problems and requires a £100m refurbishment. The hospital has also accumulated debts (£12m in 2004) because a growing number of NHS patients are being diverted to the private sector.

In a meeting with hospital consultants on April 10th, Derek Smith, chief executive of the Hammersmith Hospitals NHS Trust, reportedly revealed plans to transfer services elsewhere in the capital and sell the hospital site to developers. The decision is politically sensitive because Charing Cross sits in the marginal seat of Hammersmith and Fulham, where an untested Labour candidate is defending a slim majority of 2,015 votes.

Decongestant

The congestion charge, which is levied on vehicles entering central London, will rise from £5 ($9.40) to £8 this summer, Ken Livingstone has confirmed. The mayor’s announcement came after a six-month-long public consultation that revealed widespread opposition to such a move. Mr Livingstone said the 60% increase would “maintain the benefits currently witnessed in the zone”, cut congestion further and boost funding for his other transport programmes. To sweeten the pill, the mayor announced a 15% discount for those paying the charge in monthly or yearly instalments.

News of the rise—which comes into effect on July 4th—elicited howls from London’s business community. London First, a business coalition which supported the charge’s introduction in 2003, called the consultation process a joke and the current charging scheme a disgrace. The London Retail Consortium and London Chamber of Commerce also voiced concern at potential damage to the capital’s businesses. However, there was reassuring news for motorcycle and scooter owners: Transport for London contradicted an article in the Evening Standard of March 24th, which claimed that such vehicles might become liable for the charge.

Catch if you can

May 2005

Caravaggio: The Final Years

February 23rd-May 22nd 2005

Caravaggio's last four years (1606-10) come under the spotlight in this exhibition at the National Gallery. This was a peripatetic period for the painter, whose bold realism had made him one of Rome's most feted artists. Fleeing the papal authorities after killing a man in a duel in 1606, Caravaggio passed through Naples, Malta and Sicily, producing darker, more introspective works—a reflection, no doubt, of his growing anxiety. This small exhibition (just 16 paintings) is evidence that being on the run in no way diminished the painter's extraordinary powers.

National Gallery, Sainsbury Wing, Trafalgar Square, London WC2. Tel: +44 (0) 020 7747-2885. Tickets: £7.50. Open: daily 10am-6pm, Wed until 9pm. The National Gallery posts a full programme on its website.

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