Anxiety about the cost of living has reached new heights in the capital as Christmas approaches, new polling reveals.
Nearly 80% (77%) of Londoners believe cost of living is one of the most important issues facing the capital, according to London Councils’ annual survey of Londoners.
Conducted by Ipsos, the poll’s findings are the highest ever level of concern for any issue recorded on this question in the past decade, and an increase in 15 percentage points since last year.
Around one in four Londoners say they are finding it difficult to manage financially, with the highest levels of worry around paying energy/utility bills (67%) and covering an unexpected household expense (64%).
Nearly half (45%) say they have not turned on the heating when they would usually have and 39% are socialising less due to the rising cost of living.
Just under one in four (23%) have used savings to get by and one in five (19%) say their household income has decreased.
Renters in the capital are under particular strain, with nearly three in five Londoners (59%) living in private or social rented accommodation saying their rent has increased this year and a similar proportion (57%) saying they worry this will happen when they next renew their tenancy.
Cllr Georgia Gould, chair of London Councils, said: ‘The figures are stark and reflect the reality that councils across London are seeing in their communities. As we did during the pandemic, local government has once again stepped up to do everything we can to support our residents through this crisis. We are opening up warm spaces, offering financial support and providing advice and guidance to those in need.
‘The next few months will be critical for families across the capital who are already struggling. We stand ready to work with government to meet this challenge and ensure the right support gets to those who need it.’
