London’s emerging regional development agency is lacking the technical expertise of a trained accountant to take it forward into the next century, sources close to the agency have warned.
The London Development Partnership, forerunner of the London Development Agency, was established last year to formulate policies for the incoming mayor and agency.
When it is launched next year, the agency will bring together land assembly and infrastructure arrangements and provide support for business in the capital.
All financial work is currently undertaken by Greater London Enterprise, a commercially run company owned by a consortium of councils.
GLE provides services to public, private and voluntary organisations for economic development and the regeneration of industries.
Board member Harvey Marshall said the partnership did not directly employ an accountant but was interested in attracting a trained professional to sit on its board to help with the financial aspects of the partnership’s work.
‘We are trying to get going as a regional development agency without the resources. An accountant’s point of view would be a tremendous opportunity in terms of dissecting property deals,’ Harvey said.
‘The taxation side of things is also important,’ he added. ‘It would be wrong not to have an accountant on board.’
Harvey said the partnership wanted an accountant with a high, even controversial, profile, possibly a Big Five employee on secondment.
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