News Sadiq Khan’s London property pledge on shaky ground

Published by Diana on 22nd April, 2016


As part of Sadiq Khan’s London mayoral bid, the Labour candidate has rallied against foreign investors buying up London property. In December, Khan told the Evening Standard that it was time to stop new homes going to ‘overseas investors’ instead of Londoners:

‘Ambitious young Londoners are rightly fed up with seeing thousands of new homes each year sold off to overseas investors – many of whom will never live in them – years before they are actually built. They’re sick of not being given a chance in our broken housing market. Building new homes for Londoners must come ahead of offering investment opportunities for overseas millionaires.’

So given Khan’s call for action, Mr S was surprised to learn of some of the dealings of Khan’s business adviser Rajesh Agrawal. Agrawal is the co-founder and CEO of the foreign exchange company RationalFX. On its website, they state that they offer overseas investors advice on sending money to the UK for… purchasing property.

So, does Khan endorse his business adviser’s work? A spokesperson for Khan’s campaign says the Labour candidate takes donations from a wide range of business leaders and will be the ‘most business-friendly Mayor London has ever had’. Mr S just hopes that Khan won’t let his business interests take priority over the promise he made to ‘ambitious young Londoners’ — should he get into power.