Despite being the richest city in the UK, London has the most people in poverty. Find out how the growth plan will make sure that all Londoners benefit from growth.
Why it matters
The purpose of economic growth is to improve lives. Too many Londoners are excluded from contributing to and benefiting from growth. This blights their lives, reduces London’s productive potential and undermines social cohesion.
To reduce poverty, London must bring down housing costs; turn more jobs into good jobs; break the vicious cycle of sickness and poverty; help Londoners to get the skills to get into work and progress their careers; increase access to support and advice; support underserved entrepreneurs; and improve public transport.
Our ambition
Raise the household weekly income (after housing costs) of the lowest earning 20% of Londoners by 20%. This would mean that at least a million London households would have on average an extra £50 to spend each week after paying for housing costs.
£50
more to spend each week
What we will do
How we will achieve our inclusion ambition:
- Pay and employment rights: Reduce in-work poverty by turning more jobs into quality jobs with fair pay and predictable hours. The plan for this is in the inclusive talent strategy.
- Economic inactivity: Reduce the number of Londoners in poverty because they are unable to work due to sickness, low skills or other barriers. The plan for this is in the inclusive talent strategy.
- Growth sector employment: Increase employment of underrepresented groups in the higher-paying growth sectors. The plan for this is in the inclusive talent strategy.
- Small business support: Grow the incomes of underrepresented small business owners. Support local community businesses which provide vital local services and employ people close to home. The plan for this is in backing our businesses.
- Living costs: Reduce living costs for the poorest by building more affordable housing, keeping transport costs down and helping homes to be more energy efficient. The plan for this is in housing and infrastructure.
Discover the key actions
Inclusive talent strategy
Explore our plan to unlock the potential of London’s skilled workforce and drive the economy.
Backing our businesses
Discover how we will continue to support London businesses from high streets to startups.
Housing and infrastructure
Understand London’s priorities for building new homes and infrastructure to boost growth.
Investment and promotion
Find out how we will win more investment in growth and build London’s global reputation.
Local places
Learn how London will create more local places where businesses can grow and support their communities.