Marketplace explores the growing income inequality in the U.K. in general, and in London in particular. The five wealthiest people in the U.K. have more money than the poorest 20 percent of the population. And by 2020, an estimated 800,000 children will be living below the poverty line.
Located in the northeastern part of London, Liverpool Street station opened in 1874. As part of the Tower Hamlets borough, the average household income is just more than $49,000. The borough’s 42 percent child poverty rate is the highest of any local authority in the UK.
According to Visit London, “Notting Hill’s chic appearance - made famous by Richard Curtis’ 1999 film - is in fact relatively new. In the early 19th century, the area was dominated by potteries and pig farms”. The average household income in the Kensington and Chelsea borough is more than $170,000 and the average property value is over $2 million.
Brixton station, located in the Lambeth borough in southern London. The station opened in July 1971. The average household income is slightly more than $50,000 and the child poverty rate is 26 percent.
Located in the London borough of Islington, just outside of the city of London, Farringdon station was opened in 1863. The tube stop for Smithfield Market, the station was built together with a freight route for livestock. The average household income in the Islington borough is $96,000.
Over 40 million people pass through the Canary Wharf tube station every year, making it the most popular tube stop outside central London. Based in the Tower Hamlets borough, 18 percent of households live on less than $25,000 and 48 percent of children live in poverty, the highest rate in the UK.