Reception for Councillor Anam Islam

The picture is from the reception held this evening in the Palm Tree, Romford Road to honour the recent election of my good political comrade (and friend) Anam Islam, as a Councillor for Forest Gate North.

I was invited with other Councillors (Cllr Ayesha Chowdhury, Cllr Rokhsana Fiaz OBE, Cllr Julianne Marriott) to speak to the reception and congratulate Anam.

I told the packed reception, how as a Forest Gate resident, I was proud to have a fellow trade unionist with such good politics who wants like me, to bring about change, to be one of my excellent local ward Labour Councillors.

Anam gave a speech thanking his agent, Alan Griffiths, Labour activists from Forest Gate, Newham and Tower Hamlets for his election victory and that he vowed to serve all residents in Forest Gate North and Newham to the very best of his ability.

There was a fantastic atmosphere at the reception with supporters present from different communities and all over East London. It was also really friendly and welcoming. It was obvious to me that people not only liked Anam but were really proud of him becoming a Councillor. 

Tonii Wilson wins Beckton By Election for Labour

Congratulations to Newham Councillor Tonii Wilson who was elected last night for Beckton Ward (seen in between existing Cllrs David Christie and Ayesha Chowdhury)

The by-election was caused by the death after a short illness of Cllr Alec Kellaway.

I have previously described Tonii as "supernice" and she is - but I also admire her determination and evident hard work during the campaign.

Thanks are also due to the Agent, Alan Davies, who has run a great campaign.

The actual results were as followed:-

Syed Hussain Ahmed ​        Conservative ​584

​Mark Dunne    ​                    Trade Unionist and Socialist Coalition ​21

​Jane Alison Lithgow   ​        Green  ​70        ​

​David Mears                       ​UK Independence (UKIP) ​215          ​

​Kayode Shedowo               ​Christian Peoples Alliance      ​33        ​

David Thorpe  ​                   Liberal Democrat        ​43

​Tonii Wilson    ​                  Labour ​1,006   ​

Turnout was low at 18.87 which is something that politicians do need to do something about. The irony in Newham is that the higher the turnout usually means the higher is the Labour vote.

It was good to see that ultra Tory UKIP running a very poor third. While TUSC came bottom with 21 votes (the 1%ers).

How to allocate a £1 billion of pension assets?

Picture is from an unusual meeting held recently with other members of Newham Pension Committee on fund "asset allocation".

What types of investments you should allocate pension fund money into is arguably the most important decision that a board or trustees can make. Far more important than deciding who you employ to manage the funds day to day or even how much they charge.

Depending on your fund requirements, if you say decide to invest too much money in high risk equities rather than lower risk bonds it could have a devastating impact. Conversely if your fund really needs to take more risk and you think the economic outlook is right, then it can have a very negative effect if you opt for the safe options.

Newham decided that instead of having the usual type of review meeting meeting, where our fund advisers will  present  issues and options to the Committee who will then be expected to make a decision - to try something different. So the fund officers organised a special "round table" meeting and invited different City professionals and the Committee members (including the trade union reps) to debate and argue what should be our asset allocation fundamentals.

There was  a robust but productive wide exchange of views and I think all committee members went away with a much better understanding of the problems and possible solutions than a dry presentation. Good stuff. I recommend other pension schemes should consider doing the same. (picture of me with Cllr Ayesha Chowdhury and UNISON pension rep Gloria Hanson)