London is living through the most difficult cost-of-living crisis in a generation.
Whilst rising costs, double-digit inflation and high-interest rates are impacting the whole of the country, the effect on Londoners, who already contend with the highest housing and childcare costs in the country, is particularly acute.
Many Londoners are experiencing real hardship. The capital has amongst the highest unemployment and poverty rates in the country, with those in Black and minority ethnic groups, women and the disabled disproportionately affected. And being in work is often little protection, with three in four adults living in poverty in London in work.
London’s businesses too, battling to return to stability post-pandemic, are struggling to find the skills they need to run their operations efficiently and help the UK return to growth.
To support London’s workforce and business community, we will continue to campaign on long-term issues to help make London the best place in the world to do business, from tackling skills gaps and boosting labour market inclusion to setting out ways to deliver more affordable homes and workspaces in the city.
In the shorter term, we are working to make a difference on those things that will help London’s workers and businesses navigate the cost-of-living crisis, today.
