CITY AND SUBURBAN
Apples for the teacher, zones for the minister it was all a bridge too far
CHRISTOPHER FILDES
Apples for the teacher and butter for the politician. Businessmen are always tempted to butter up ministers by backing their pet projects in the simplistic hope of getting their favours returned. New Labour Ministers know how this works and, when the Dome was his pet project, Michael Hes- eltine was the past master. The City, he thought, should sub up for the Money Zone. He got £6 million out of the Corpo- ration of London, and the Bank of England agreed to lend £1 million in £50 notes to P,ut on display, though, naturally, it wanted 'hem back. He then called the banks' chair- men in and demanded money with men- aces. Their responses were varied. Barclays and National Westminster came over with their hands up. Lloyds and Abbey National Plucked up the courage to tell him that they could not justify this sort of use of their corn- Lames' money. HSBC took a far stronger brie: so Sony, Secretary of State, but our mil- lennium project is the bridge across the 111,, ames, and that's where our cheque for z4.3. million is going. It opens this week, a daz- iPg single span from the City to Bankside. 'gore fun than the Zone, so HSBC must reflect, and the Thames could have had 35 more such bridges for what the Dome will cost, and this one will be there when the Dome and Zone are gone. The moral is that the best butter may not always be the best Irestment. Pet projects come and go with uel.r.masters, and politicians can be merci- '1 .s.e s in jettisoning their pet businessmen. ,.-unk what New Labour did to the Dome's uapless chairman, Robert Ayling.
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