Rankings of the World's Most Expensive Cities

Meeting: 
MQT on 2015-05-21
Session date: 
May 21, 2015
Reference: 
2015/1446
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Following the news that London has become the world's 11th most expensive city, moving up four places since the Economist Intelligence Unit's last survey, what steps are you taking to ensure the capital is affordable for ordinary Londoners?

Answer

Answer for Rankings of the World's Most Expensive Cities

Answer for Rankings of the World's Most Expensive Cities

Answered By: 
The Mayor

As you are aware, I continue to champion the London Living Wage and my campaign has been very successful, with the number of Living Wage employers in London now at around 600, rising from less than 30 when I first came into office in 2008.

In addition to promoting the LLW, 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 4th year in a row:
  • Retrofitting homes with energy efficiency measures through RE:NEW, thus saving Londoners money on energy bills;
  • Freezing fares in real terms for 2015;
  • I have also guaranteed that I will freeze all TfL fares in real terms whilst I am still Mayor;
  • TfL have also reviewed the daily fares cap, giving flexible and part-time workers, including those with unpredictable hours, access to lower fares;
  • I have also introduced and protected a number of travel concessions including;
      • Protecting the Freedom Pass for Londoners over 60 and allowing it used on all TfL services in the morning peak;
      • Introducing travel concessions for apprentices; and
      • Introducing free travel for disabled war veterans and armed forces personnel in uniform.

    I will also deliver over 100,000 affordable homes over my two terms in office, with 17,914 delivered in 2014/15, the most for any year since 1981.