The New Acronym
ENDIes are populating London due to the high cost of living. Back in the good times several decades ago, the acronym YUPies (Young Urban Professionals) dominates the streets of London. In bad economic times the acronym ENDIes (Employed with No Disposal Income) roam the streets disgruntled.
Politically Disenchanted
The Centre for London - an organization aimed at connecting, researching, influencing for a better London - report says a million workers can hardly make ends meet. They felt ignored and overworked. Charles Leadbeater, the authors of the report note: "While 'endies' don't complain, they are increasingly disenchanted with the political system. Unless London does better by them, the city's politics could easily turn sour." Leadbeater was a former adviser to former UK Prime Minister Tony Blair.
High Cost of Living
For households with incomes between £20,800 and £28,500 a year, rental costs have risen 4% in real terms over the last decade. Rent now accounts for about 41% of their incomes. Between 2008 and 2014 trips using pay-as-you-go Oyster cards rose in price by 61% for bus journeys and 47% for the underground. A zone four resident on an annual salary of £22,000 spends the first 55 minutes of their working day just paying for their commute to and from work. Between 2001 and 2011, the average London fuel bill rose by more than 50% above inflation. Nursery care for a child under the age of two is 25% more expensive in London than elsewhere in Britain. A London couple with one child need a second earner with wages of at least £17,000 to make full-time childcare cost-neutral the Guardian reported on 13 Sep 2014.
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