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Super-rich elites making London ‘off-limits’

Super-rich elites making London ‘off-limits’

London has become the “epicentre of the elites” in the UK, making it “off limits” for young people from poorer backgrounds, says a social mobility charity.

The Sutton Trust says the high cost of housing has become a social barrier.

A report, using London School of Economics research, says social mobility is easier outside the capital.

Trust founder, Sir Peter Lampl, said the idea of going to London to “move up in the world” had become “a myth”.

The report says it is increasingly difficult for young people to move to London to get the high-paying jobs concentrated in the capital.

“Those that benefit most from opportunities in London were either born there or are the economically privileged from other parts of the country,” said Sir Peter.

“London is essentially off-limits to ambitious people from poorer backgrounds who grow up outside the capital.”

This is exacerbated by practices such as unpaid internships, which are available only to those who can afford to live and work in London without earning.

The report – Elites in the UK: Pulling Away? – highlights the rise of the ultra-rich in London in recent decades, with their wealth often deriving from finance and banking.

Read more: https://www.bbc.co.uk/news/education-51196849

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