Why London workers have high incomes but spend very little in the UK

Londoners top the ranking for income per head across the UK, yet spend very little after housing costs are taken into account, according to research by leading think tanks. A new report by the Institute for Fiscal Studies (IFS) and Economic Statistics Centre of Excellence (ESCoE) signals that high housing costs in the capital city are putting people’s budgets under intense strain. Londoners’ earnings stand at around 39 per cent more than the national average, but household consumption, after housing costs are taken into account, is near the bottom of the nationwide distribution. Income levels and spending habits by north Londoners are key to the findings. Read more of the story here 👇 https://www.cityam.com/londoners-earn-the-most-but-spend-very-little-ifs-finds/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Mauricio Alencar, Emmanuel Nwosu, Joseph Curay Teneda