I have just spent a day in London and although overall I enjoyed my experience I can’t say that I envy people who choose to live there.
I found that our hotel rooms were at multiples of the prices we can expect to pay in the north, and my experience was just as a tourist.
So how much more expensive is it to actually live there with living standards having fallen in the last few years? Frances O’Grady of the TUC comments that we have suffered the longest fall in living standards since Queen Victoria was on the throne, and it is hitting Londoners especially hard.
Statistics from Loughborough University indicate that they believe a minimum income standard outside of London should be £279 per week, but to achieve the same standard of living in inner London £410 per week would be needed.
This means that you would need to earn 47 per cent more and also have to put up with less space and possibly more stress than in the rest of the UK.
As a result of this, having an income below the minimum is greater in London than anywhere else in the UK with the last recorded figures from 2013 showing that 29.7 per cent of Londoners had not achieved the minimum income standard.
In addition to just maintaining a standard income the average Londoner has to contend with an average property costing £502,191 that has shown an increase of 13.3 per cent during 2014.
Whereas the average price paid for properties in Morecambe last year was £136,631 with prices at best just remaining stable.
Given that it seems reasonable to suggest that most Londoner’s are not earning a fortune, then unless the streets are actually paved with gold buying a house although difficult in the North West takes on Herculean proportions in London.
I do feel it would do no harm if our local MPs extolled the virtues of our area and attempted to use their influence to move Government departments to the north.
I believe this type of initiative will bring great benefits to our area and take the pressure off London.