Taking Stock – Prudence proves to be a sure fire bet.

All were wondering last week whether Steven Bundred, chief executive at Camden, got some insider information on the race to become London mayor. Introducing Ken Livingstone at a fringe meeting during the annual CIPFA conference in Brighton, Bundred was careful to explain to a packed house of delegates how he had once collaborated with Livingstone during his time at the former GLC. Heady days Bundred recalled and looked almost wistful. Then to everyone’s surprise Bundred revealed how his one-time comrade has helped swell his bank account. No, there was no corruption, no syphoning of council funds. Bundred had simply placed a hefty bet on Livingstone to win the mayoral race and, of course, he won. It takes a CIPFA member to make such a prudent investment.

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