Z2K wrote to all the mayoral candidates drawing attention to the suffering of impoverished tenants as a result of the housing benefit caps. Only the Conservative and Labour candidates replied. None of them addressed the issues. The new Mayor will have to address a rampant global free market pouring money into the London property as a triple-A-rated bond investment for the very wealthy. The pace of foreign investment in London property is now reaching catastrophic levels from squeezing impoverished Londoners out of their homes and rents are raised above the caps. Their suffering is result of a global glut of private tax free wealth, around $11.5 trillion in overseas accounts, nations with GDPs in surplus and tyrants ripping off their fellow countrymen treating property as a safe haven in a trouble world. Is the new mayor brave enough to put 99% of Londoners first?
Find copies of the responses below.
Rev Paul Nicolson, Chair,
Zacchaeus 2000 Trust.