"Nearly four million Londoners are living below the minimum income level to enjoy a decent standard of living. Analysis from Trust for London shows that a majority of private renters, 1.1 million children and more than a third of pensioners are now living with less than what is needed for day-to-day life in the capital."
"The situation has significantly worsened in the last decade, with the cost of a decent life labelled the Minimum Income Standard (MIS) around double what it was in 2014 across London. This is primarily down to the capital's chronic shortage of social housing, the report says, meaning families have to rely on the private rental market."
"Renting for an adult is more than twice as expensive in outer London than other UK cities, increasing to three times as expensive in inner London, meaning the income needed to live with dignity in London is far more than other UK cities. A couple with two children each need to earn 37,000 a year in urban UK compared with 49,500 in inner and 46,900 in outer London."
Trust for London research reveals that nearly four million Londoners live below the Minimum Income Standard (MIS), including a majority of private renters, 1.1 million children, and over a third of pensioners. The cost of maintaining a decent standard of living has doubled since 2014, driven by London's severe social housing shortage. Private rental costs are two to three times higher in London than other UK cities, requiring families to earn significantly more for dignity and meaningful participation in society. A couple with two children needs £49,500 annually in inner London versus £37,000 in other urban areas. The situation continues deteriorating with few improvements expected, demanding urgent policy changes and funding decisions from decision-makers.
Read at www.bbc.com
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