Debt in London

MQT on 2014-11-19
Session date: 
November 19, 2014
Question By: 
Joanne McCartney
Labour Group
Asked Of: 
The Mayor


What action are you taking to help Londoners cope with and stay out of debt?


Answer for Debt in London

Answer for Debt in London

Answered By: 
The Mayor

In terms of helping Londoners cope with debt, free debt advice services and credit unions in the capital are promoted on the GLA website and through my annual Know Your Rights campaign.

I have also introduced a number of measures to help Londoners cope with a rise in the cost of living. These include:

Reducing my share of the Council Tax for the 3rd year in a row. This amounts to a 24% reduction in real terms since 2008-09.

In November 2014, I raised the London Living Wage from £8.80ph to £9.15. There are now 429 accredited Living Wage Employers in London compared to 27 in 2008.  An estimated 19,000 Londoners have benefited from the LLW putting over £60m into the pockets of Londoners since its introduction.

A total of 103,000 homes have received energy efficiency measures through RE:NEW saving on energy bills.

Fares will be frozen in real terms for 2015 - TfL recently reviewed the daily fares cap giving flexible and part-time workers, including those with unpredictable hours, access to lower fares.

I have also:

•              Allowed the Freedom Pass to be used on all TfL services in the morning peak;

•              Protected the Freedom Pass for Londoners over 60;

•              Introduced concessions for apprentices;

•              Introduced free travel for disabled war veterans and armed forces personnel in uniform