The Mayor of London has announced an online Cost of Living Hub to help capital residents manage against financial hardship.

Widely reported rises in energy bills alongside increased national insurance and council tax contributions this spring has led to thousands struggling.

Polling earlier this year found 34 per cent of Londoners have struggled to pay their bills in the past six months.

The plight has led to the foundation of Your Money Matters, an Archant-led campaign offering practical advice and support as you grapple with a surge in the cost of living.

Mayor Sadiq Khan said: “I am deeply concerned about the impact that the soaring cost of living is having on Londoners.

“The increase in the energy price cap poses a significant challenge, especially to those on lower incomes whose energy bills are likely to take up a larger share of their outgoings.

“There is a clear and urgent need for Londoners to be able to access practical financial advice which could help them navigate this difficult period.

“I hope that anyone who is struggling will find the new Cost of Living Hub to be a useful resource.”

The Cost of Living Hub will help Londoners access a wide range of information and advice including how to claim benefits that they are entitled to, help dealing with debt, financial management and mental health support.
The service includes targeted information for groups of Londoners who are more likely to experience poverty and financial hardship.

For example, the hub signposts disabled Londoners to disability benefits, older Londoners to pension credit, which is not taken up by nearly 100,000 eligible older Londoners, and low-income families to childcare entitlements.

Adam Scorer, chief executive of National Energy Action, said: “Today across London, millions of households will see their home energy bills soar by 50pc.
“For those in or at risk of fuel poverty it could spell disaster; not just financial hardship, but to their physical and mental wellbeing.

“It is very welcome that the Mayor is setting up the cost of living hub and is committed to supporting and expanding a number of vital programmes across the capital which can help offset some of this misery.”