Daniel Caspi, markets committee chairman at the Corporation of London, pictured, said this afternoon: 'I would like to thank Nicholas Saphir for a most comprehensive review, which is most welcome. The next stage is for us to consult with our tenants in all three markets on the recommendations and that process is due to take 12 weeks. We expect an extremely constructive debate.
'After that, we will begin the process of deciding how we can take this forward. It is a very progressive report and the far-reaching recommendations could change the landscape of the London wholesale market sector.' He admitted that any implementation of the recommendations would be a lengthy process. 'It would need an act of parliament to make the recommended legislative changes – primary legislation is very important. That could take three years.
The Corporation of London's markets – New Spitalfields, and particularly Billingsgate and Smithfield – will be subject to the most significant structural changes should the recommendations be taken on board.
'Clearly we recognise that changes are already taking place in the markets and to do nothing is not necessarily an option. It would be inappropriate for us to make any further comment until we have talked with our tenants and the trade unions.
'The Corporation has been involved with the markets for 800 years and we have seen reviews before. Our markets employ in excess of 3,000 people and turn over more than £1 billion a year. They still perform a major service for London and we intend to act proactively to ensure that a clear view of the situation and the alternatives are established.' Caspi added that once the consultation process was over, negotiations with the government over the potential for implementation of changes would begin.
At Defra, Lord Whitty made the following statement. 'I am grateful to Nicholas Saphir for producing such a thorough report. Together with the Corporation of London, Defra is inviting comments on the report's recommendations and I look forward to hearing the views of traders, tenants associations and all other interested parties.' A copy of the report is available on the Defra website at www.defra.co.uk
