More and more businesses are closing in London especially within the hospitality sector. Bricklane has been hit hardest with local restaurants finding it impossible to attract customers despite illegal touting taking place!
The daily mail recently reported Tower Hamlets as the poorest borough in the UK with the highest rate of unemployment and the highest rate for claiming benefits…. CLICK HERE to read the full story
Since April 2011 housing benefit has also been capped and more and more people are facing homelessness in London.
The hardest hit will be unemployed parents living in council or private sector housing in bedrooms of 3 or more. If these people even found a full time job they would still be left with no money not even enough to cover the rent! Some of these people are living in 7 bedroom homes paying in excess of 3000 pounds per month. So if 2 adults were earning say 1000 pounds each they still would be 1000 pound short each month to pay their rent!
Best solution is to move out of London as life is only going to get tougher in the months and years to come….