Search

East End poor face higher cost-of-living, says Toynbee Hall

PUBLISHED: 17:56 12 May 2014 | UPDATED: 18:04 12 May 2014

Fighting East End pverty

Fighting East End pverty

Toynbee Hall

Families on the poverty line in London’s East End are paying more for everyday living than elsewhere, a shock report reveals this week.

They are forking out more for essentials due to the Poverty Premium, research by Toynbee Hall charity has found.

Low-income households are finding it a daily challenge paying for products and services, even with the most cost-effective means of paying, including cash.

They owe more with catalogue buying—but their financial savvy means they get away with lower-cost credit than other options such as doorstep lending or payday loans, researchers have discovered.

“People are making sure they’re getting the best deals for goods and services,” explained Toynbee Hall’s chief executive Graham Fisher. “We encourage them to keep this going by joining programmes such as the Community money mentors scheme which helps make their incomes go further.”

Catalogue debt is high, but lower than many other options such as doorstep lending or payday loans. The cost of fuel, insurance and loans creates a Tower Hamlets Poverty Premium of £786, the findings show.

There is a lack of free cash machines, particularly in Poplar, it found, while the Tower Hamlets Energy Co-operative could benefit many more residents.

If you value what this gives you, please consider supporting our work. Click the link in the yellow box below for details.

Become a supporter

This newspaper has been a central part of community life for many years, through good times and bad. Coronavirus is one of the greatest challenges our community has ever faced, but if we all play our part we will defeat it. We're here to serve as your advocate and trusted source of local information.

In these testing times, your support is more important than ever. Thank you.

Most Read

Most Read

Latest from the East London Advertiser