Paul Butler London Voluntary Services Council & United Way London and UK
Market Context • London has the highest poverty rates in England at 28% (7% higher than England). • Incomes are more equally spread than in the rest of England. • Average earnings shrank by 4.4%. • Food poverty is increasing, illustrated by the increase in food banks. • London ranks as most ‘debt vulnerable’ region in terms of total debt and unsecured debt
Market Context • 375,000 people unemployed in London in 2012, increased by more than 40% since 2007. • 25% of economically active young adults were unemployed. • 16% of Londoners earned below the London Living Wage in April 2012. • Over 40,230 households in temporary accommodation. • Rough sleeping increased by 13% in 2012/13 to 6,437
London’s Poverty ProfileTrust for London • 57% of adults and children in poverty are in working families. • At 39%, the private rented sector now has a larger share of people in poverty than either social rent or owner occupation. • In 2012 just under 600,000 jobs in London were paid below the London Living Wage (8.55 per hour). Over 40% of part-time jobs and 10% of full-time jobs are low paid. • 80,000 London families were estimated to be affected by the under-occupancy penalty, losing an average of £21.00 per week.
Findings: fragile VCS finances How has your organisation's overall income changed over the last year? What do you expect to happen to your overall income in the next year?
Findings: fragile VCS finances Have you used free reserves to cover running costs in the last year? Approximately how much of your organisation's current expenditure do you have left in unrestricted reserve funds?
Case Studies • Third Sector Implementation Board – NIACE • Council of Somali Organisations • United Way London & UK • Reach Society