Islington cost of living 'a scandal' - says Jeremy Corbyn

Former Labour leader and Islington North MP Jeremy Corbyn 

Former Labour leader and Islington North MP Jeremy Corbyn - Credit: PA

The cost of living situation for many in Islington is a “scandal”, according to local MP Jeremy Corbyn. 

Alongside Islington Council, the former Labour Party leader has sympathised with the many who are now facing financial hardship as a result of the rise in energy prices. 

Mr Corbyn spoke up as the Gazette moves forward with the Your Money Matters -  a campaign offering practical advice and support. 

He said: “The cost of living scandal is having a devastating impact on families up and down the country, including in Islington.

“Many people are using food banks and struggling with their bills as costs continue to soar — a contrast to the stagnation of wages.

“Whilst millions are plunged into poverty, making the appalling choice between heating or eating, wealthy individuals and companies such as Amazon and Shell are reporting record profits.

“The government needs to act now. We need a wealth tax, a pay rise for workers and to bring energy companies into public hands to reduce costs.”

Islington Council has also pledged to support residents. 

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A spokesperson added: “We know that the dramatic rise in energy prices and the ongoing fallout from the Covid-19 pandemic have stretched household finances to breaking point, and that many residents across our borough are struggling to make ends meet.   

“We’re determined to make Islington a more equal place for everyone, where everyone can enjoy a good quality of life – which is why we’re investing in measures that support the most vulnerable.  

“Our 2022/23 budget will help vulnerable households across the borough, with more than £600,000 being put into our council tax support scheme and a range of other financial measures being introduced to support those in need."

A Government spokesperson said: “We understand that people are struggling with rising prices, and while we can’t shield everyone from the global challenges we face, we're supporting British families to navigate the months ahead with a £22 billion package of support this financial year.

“That includes saving the typical employee over £330 a year by raising the national insurance contribution threshold, lowering the Universal Credit taper rate to help people keep more of the money they earn, and providing millions of households with up to £350 to help with rising energy bills.

“The UK’s taxes on wealth are on par with other G7 countries, and our progressive system means that the top 1 per cent of Income Tax payers pay almost 30pc of all income tax, and the top 5pc nearly 50pc.