The Capitalist: City PM, sexing up the Budget since 2005
INSIDE OUR INAUGURAL SQUARE MILE AWARDS
The Square Mile gathered in force last week to celebrate… the Square Mile. It was our inaugural Toast the City Awards, and gongs were handed out to the City’s best restaurant, bar, green space, rooftop and much more. However, Piccolo Bar, the winners of the best sandwich accolade, weren’t to be seen anywhere in the crowd. “They’re obviously busy making sandwiches,” one City big-wig was heard suggesting from the sidelines. Well, exactly that: and we’re very grateful for their services.
Over at the bar, one former royal aide was effusive about her former work with the Queen, but looked shocked when we asked how Camilla was behind the scenes. “No, the proper queen,” we were told. We sincerely hope Camilla wasn’t within earshot.
Elsewhere, the wife of one City PM columnist was heard bartering with the owners of the City’s only butchers. We can only assume she works in the world of fashion and beauty because The Capitalist overheard the individual offering perfume “in exchange for some sausages. I’m totally serious.” Suffice to say, the drinks had been flowing all night and it was quite the party. We look forward to the next edition of the awards in 2026.
MAKING LIGHT OF IT
We’ve all been taught that the show must go on. But the Jamaican Tourist Board may have taken that lesson too literally. In an email to attendees of World Travel Market, representatives struck a somewhat jolting tone: “In light of Hurricane Melissa, the… delegation from the Jamaica Tourist Board will not be attending World Travel Market. We would, however, like to invite you for light refreshments on the stand”. The Capitalist may have considered a sensitivity read on that one.
CITY AM, SEXING UP THE BUDGET SINCE 2005
Things are hotting up for tax and wealth advisors as the Budget draws near, with reports of a surge in inquiries about accessing pension lump-sums or getting affairs in order before it’s too late. Private client tax expert Stuart Maggs has had enough, posting a blistering critique of the government on X: “In my 30-odd years in practice I have never experienced such a devastatingly incompetent budget process that over the course of 12 months has, in my view, inflicted such horrific damage to business and consumer confidence.” Preach! However, we take issue with his suggestion that “tax should be boring, not front page news.” We appreciate the sentiment but the last thing we want is a boring Treasury. Won’t someone think of the front pages?
THE GOLDEN TICKET
A stake in a 186kg gold cube is poised to go on sale after its owner filed for bankruptcy. The Castello Cube, an artwork made from 24-carat gold, is back on the market as part of insolvency proceedings involving Klemens Hallmann, a real estate tycoon. The Austrian businessman owns a 32pc stake in the Cube, which will be transferred to administrators as they seek to raise funds to repay creditors, according to debt agency Credit reform. With gold currently priced at roughly £3,000 an ounce, the market value of the entire cube would be $23m.
GRAPE NEWS
The Capitalist was sad to see the end of Café Below, in the crypts of the St Mary-le-Bow church opposite our office. While we can’t be sure how many of our reporters nip into the church itself for some quiet reflection, we are heartened to see Humble Grape wine bar and restaurant, winners at our Toast the City Awards, will be taking over the vacant subterranean space in the coming weeks. Hallelujah.