London Mayor Says Ask Your Boss to Help Pay for a House

By Gary Cutlack on at

Dear James, I know you've only really just started here and everything's a bit busy at the moment, but I was wondering if you could perhaps get management to approve a small loan of £400,000 so I can live a bit nearer the office? Thanks, Gary xxx 

That sort of email, perhaps minus the ironic kisses, is the sort of thing London's mayor Sadiq Khan would like to see flying about the businesses of the near future, as he's put forward the suggestion that companies should start helping their workers rent homes by paying their deposits -- seeing as you need to be a multinational with a billion-dollar credit facility to rent anything inside Zone 4 of the capital these days.

This is from the Standard, which says Khan has instructed the City Hall organisations to start looking at ways to pay the rental deposits of staff, with other initiatives under the Fifty Thousand Homes banner also covering mortgage guarantees for staff as well as subsidised loan rates for purchases.

Khan said of the plan: "It is unacceptable that so many hard-working Londoners continue to be priced out of their own city — it is bad for Londoners and bad for the future economic success of the capital. We know that building new homes to tackle the housing crisis won’t happen overnight but in the meanwhile we need to do whatever we can to help Londoners struggling to meet the soaring cost of housing." [Standard]

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