Labour’s bid for City council

The Labour party is planning to put forward candidates for council seats in the apolitical City of London Corporation, currently controlled by bankers.

Candidates are to campaign on the back of the credit crunch, which they say has been caused by many of the corporation's councillors. It will be the first time Labour has launched an organised campaign to take seats on the body that runs the Square Mile although not the first time Labour candidates have stood.

Anyone who lives or works in the Square Mile can stand in next month's elections, but the vast bulk of the councillors are City professionals.