The upcoming London Olympic games are driving up property values in the surrounding areas. And, with the increase in property, comes an increase in rent.
Low-income people who live near London’s Olympic Stadium may have to move to other parts of the country due to rising rents, the borough’s mayor said Tuesday.
Newham Mayor Robin Wales said a new U.K. government policy limiting rental subsidies means that many people can no longer afford to live in the east London borough that now includes the sprawling Olympic Park.
Newham has long been one of the country’s poorest boroughs, but the newly built Olympic Stadium, a large new shopping mall and public parks have regenerated parts of the borough and caused rents to rise.
Predictably, this is a due to the policies of evil conservatives.
In Britain, people with low incomes can apply to have all or part of their housing costs subsidized by local authorities, but the Prime Minister David Cameron’s Conservative-led government last year introduced a controversial benefit cap that limits rent subsidies.
The maximum is now around 400 pounds ($646) a week for a four-bedroom house. Most people are only eligible for much smaller properties with lower benefit caps.
And, children are hardest hit.
“People are being driven out of their homes, their kids are being ripped out of schools, because they can no longer afford their rents,” he told The Associated Press. “These are people’s lives we are dealing with.”