Debt (1)

Meeting: 
MQT on 2014-09-17
Session date: 
September 17, 2014
Reference: 
2014/3464
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

What progress have you made as mayor in tackling problems with excessive personal debt and financial exclusion in London?

Answer

Answer for Debt (1)

Answer for Debt (1)

Answered By: 
The Mayor

A key priority for me is to generate jobs and growth so that Londoners have opportunities to increase their incomes that could ease debt and credit issues. We are continuing to work in partnership with the Living Wage Foundation to increase the number of employers in London that offer Londoners a decent wage that reflects the cost of living. There are approximately 400 accredited London Living Wage employers in London across the private, public and third sectors. The LEP will also dedicate funds to invest in priorities that ensure Londoners have the skills to gain sustainable jobs. I am also supporting teachers in London's secondary schools to improve their financial literacy skills. My officers continue to support Toynbee Hall and London's debt advice agencies to promote their services, analyse client data, identify and map current debt trends and support research into payday loan usage and awareness of credit unions.