Over a third of Londoners (34%) earn less than is needed to live on in London according to a new report from the Trust for London. The report found that costs from housing, public transport and childcare, which are particularly high in London Borough’s such as Tower Hamlets, were pushing more people into poverty. London Assembly Member John Biggs AM said the report shows the Mayor of London “needs to recognise the strain the rocketing cost of living has placed on Londoners.”
The report found that in Inner London boroughs, such as Tower Hamlets, it costs a single working-age adults 47% more to live compared with the rest of the UK. The difference is also stark for couples with two children costing them 22% more than the UK average. For pensioner couples the difference was 31%.
John Biggs AM said the report showed that the Mayor of London needed to do more to give Londoners a better quality of life by ensuring more people are paid London Living Wage and getting a grip on rising housing costs.
The Trust for London report is based on research gathered from members of the public in London on what they see as a ‘minimum income standard’ that can fulfil a ‘minimum socially acceptable standard of living’ which includes essential needs and participation in society.
Responding to the Trust for London report on the minimum cost of living in London, London Assembly Member for City & East London said:
“Runaway housing and childcare costs now mean well over a third of London families, including residents in Tower Hamlets, earn less than they need to live on in the capital.”
“The Mayor needs to recognise the strain the rocketing cost of living has placed on local residents. What nobody wants to see is a London where only the rich can afford to live.”
“This utterly shocking report shows that far more needs to be done to encourage employers to pay a Living Wage and bring down the cost of housing.”