Even those in work are struggling to pay most bills, warns Trust of London
A FIFTH of Londoners are living in poverty, according to a study published today.
Some 2.3 million people in the capital are struggling, even though a record number — 58 per cent of that number — are working, according to research by the Trust of London.
The proportion of impoverished Londoners in some type of employment has increased from the 44 per cent recorded a decade ago.
This poorest fifth of Londoners own just 0.1 per cent of the capital’s wealth, including finances, property and pensions, the campaigning charity says, while the richest 10 per cent own more than half.
Though the proportion of Londoners in poverty after housing costs are taken into account has fallen by 2 per cent to 27 per cent in the past six years, more needs to be done, according to researchers.
Director of policy and grants at Trust for London Mubin Haq said: “The reality remains that, for many, work does not pay enough or offer the security that people need.
“We need more action to increase wages and improve good work standards if poverty is to further reduce.”
Researchers measured poverty using official statistics on household income calculated after taxes and housing costs. A household with an income below 60 per cent of the median income is counted as being in poverty.
A spokesman for the Mayor of London said: “Sadiq Khan was elected with a mandate to be the mayor for all Londoners.
“He is committed to doing all he can to tackle the cost-of-living crisis and ensure prosperity is shared.
“And he is appalled that, in a city as prosperous as London, some people have to rely on foodbanks to feed their families.
“That is why the mayor intends to introduce a range of targeted strategies to improve economic fairness and reduce poverty, is doing everything within his power to build more truly affordable homes for Londoners and has delivered a range of measures to make getting around the city cheaper, including freezing all TfL fares and introducing the Hopper fare.
“He is also urging all businesses across London to pay their staff at least the London living wage.”