It is cheaper to live in Madrid and commute to London than it is to rent a flat in Camden Town and work in Liverpool Street, according to new figures.
Research conducted by Labour London mayoral candidate Tessa Jowell shows a Camden Town tenant would be £403 a month better off if they moved to Madrid and commuted to work.
An average one-bedroom flat in Camden costs £1,893 a month to rent, council tax is £111.40 and a zone 1-2 travel card costs £123.30, making the basic cost of living in London £2,128 a month.
On the other hand, a fully-furnished air-conditioned apartment in the heart of Madrid would cost £532 a month and there would be no council tax as the equivalent tax is covered by the landlord in Spain.
Booking flights in advance with the likes of Ryanair would mean they could cost as little as £900 a month.
The total comes to £1,725 a month, including train travel.
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