Summary
New research shows that nearly four million people in London are living below the minimum income needed for a decent standard of living. The high cost of living, especially in terms of housing, has worsened over the last decade, making it difficult for many to afford basic needs. The shortage of social housing and expensive private rent are key reasons for this situation.
Key Facts
- Nearly four million Londoners live below the minimum income level for a decent life.
- Private renters, 1.1 million children, and over a third of pensioners in London struggle with low incomes.
- The Minimum Income Standard (MIS) has doubled since 2014 in London.
- Social housing is scarce, forcing families to rely on more expensive private rentals.
- Renting in outer London is over twice as costly as in other UK cities; it is three times more costly in inner London.
- A couple with two children needs to earn around £37,000 in urban UK, but £49,500 in inner and £46,900 in outer London.
- Mayor Sadiq Khan is implementing measures like free school meals and freezing transport fares to support Londoners.
