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Cost of living: Families are priced out of London, Assembly told
Kumail JafferLocal Democracy Reporting Service
AFP via Getty ImagesFamilies are being priced out of living in London due to rising costs and a lack of social housing, the London Assembly has been told.
The number of births in London in 2023 was 20% lower than the peak in 2012, with the sharpest decline in inner London, according to the Assembly’s Economy, Culture and Skills Committee.
The committee heard from experts on this trend, with child poverty campaigner Katherine Hill urging London’s mayor to make the capital a “child-friendly city”.
A spokesperson for the mayor said London’s population had “always fluctuated”, and the mayor had been doing “all he can” to support families with the cost of living.
The mayor’s office blamed falling numbers of primary school pupils in inner London on factors including “national falling birth rates, Brexit, housing costs and the impact of the cost-of-living crisis”.
In Pictures via Getty ImagesMs Hill, who is the strategic programme manager for child poverty campaign group 4in10, told the committee on Tuesday: “London rightly prides itself on being a diverse city – that should cut across all parameters, including age.
“In terms of getting people to have children and then stay in London with them, affordable housing and affordable childcare are the absolute key.”
She said families were being “priced out of areas where previously they have been able to live”, primarily due to availability of social housing.
Dr Bernice Kuang, a research fellow in demography at the University of Southampton, claimed Londoners still wanted to have an average of two children, but that this was not feasible for many in the capital.
She blamed a shift from social housing to private renting in inner London, adding that “private rented accommodation is not seen as the place to start a family”.
The mayor’s office claimed Sir Sadiq Khan had “started more new council homes for Londoners than any time since the 1970s and has funded free school meals to all state primary school children”.
Getty ImagesExperts said another reason for the drop in the number of families in London was the cost of childcare.
According to Coram Family and Childcare, parents of three to four year olds in inner London pay an average of £184.96 for 50 hours of childcare, even with the government’s free 30-hour offer, compared with a London average of £126.94.
Ms Dye said availability was often an even bigger problem than affordability, with “childcare deserts in parts of the city”.
The panel also expressed concerns about a lack of public green spaces for children to play in the capital.
‘Fantastic city for children’
The declining number of children born in the capital has forced many primary schools to close.
In February, a London Councils report predicted reception pupil numbers in the city would decrease by 3.6% over the next four years, which translates to 3,195 pupils or 117 classes.
Ms Hill said this would change “how our city feels” and that schools were “the heart of our communities”.
“If we lose them, we’re losing more than figures on a graph,” she said.
However, she acknowledged that “London is a fantastic city for children”, noting free transport and museums for children to take advantage of.
But, she added: “They need a roof over their head to be able to do that.”
Business
Sensex, Nifty 50 Stock Market Today Live Updates: Sensex Up 360 Points, Nifty Above 24,100; India VIX Falls Over 15%
The Nifty50 and the Sensex rebounded from a two-day slump, tracking gains in global equities as Brent crude price eased after US President Donald Trump signaled an end to war. As of 9:17 AM, the Nifty50 was trading 0.58 per cent or 143.35 points higher at 24,167.40, and the Sensex was trading 0.62 per cent or 491.68 points higher at 78,030.20.
Global Cues
South Korea’s Kospi jumped over 6 per cent to lead the recovery rally in the region, and Japan’s Nikkei 225 rose over 5 per cent.
Meanwhile, US stock futures declined after the US President Donald Trump signalled that the war with Iran may come to an end soon. He also warned that Iran would be hit 20 times harder if the country blocks oil supply from the Strait of Hormuz.
The Dow Jones Industrial Average and S&P 500 futures were trading 0.22 per cent and 0.25 per cent down, respectively.
Overnight, the Dow Jones Industrial Average and S&P 500 indices ended 0.5 per cent and 0.83 per cent higher, respectively.
Brent crude prices declined 11 per cent to $88.05 per barrel on Tuesday so far following Trump’s remarks. It was trading 10.37 per cent down at $88.70 per barrel as of 7:20 AM, according to data on Bloomberg.
Gold and silver futures rose on Tuesday as the dollar index declined on hopes for easing US-Iran tensions in the near future. Gold and Silver futures were trading 1.55 per cent and 6.06 per cent higher, respectively.
Last Updated:
Gold prices surged on March 10. 24k gold was Rs 1,61,610 per 10g, 22k gold was Rs 1,48,190 per 10g. Silver rallied Rs 10,000 to Rs 2,90,000 per kg. MCX futures also rose.
Gold and silver futures rose on Tuesday
Gold Rate Today, March 10: Spot gold prices rose sharply on Tuesday after US President Donald Trump hinted that the war with Iran is close to an end. The price of 24-carat gold stood at Rs 1,62,380 per 10 grams, while 22k gold was available at Rs 1,48,190 per 10 grams. These rates do not include GST and making charges.
Meanwhile, spot silver saw a sharp uptick to rally Rs 10,000 in a single day in India, which was trading at Rs 2,90,000 per kg in the morning.
On MCX, gold futures, whose expiry is on April 02, 2026, was traded at Rs 1,62,143 per 10 gram, with a rise of 1.15 per cent. While silver futures expiring on March 05, 2026, was trading at Rs 2,76,308 per kg, with a jump of 3.42 per cent.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On March 10?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,49,000 | Rs 1,62,530 |
| Jaipur | Rs 1,49,000 | Rs 1,62,530 |
| Ahmedabad | Rs 1,48,900 | Rs 1,62,430 |
| Pune | Rs 1,48,900 | Rs 1,62,430 |
| Mumbai | Rs 1,48,850 | Rs 1,62,380 |
| Hyderabad | Rs 1,48,850 | Rs 1,62,380 |
| Chennai | Rs 1,48,850 | Rs 1,62,380 |
| Bengaluru | Rs 1,48,850 | Rs 1,62,380 |
| Kolkata | Rs 1,48,190 | Rs 1,62,380 |
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
March 10, 2026, 10:19 IST
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Business
Middle East crisis: Oil tops $100, nears 4-year high as Saudis cut production – The Times of India
Oil prices surged to $120 a barrel before retreating to $102 Monday as Saudi Arabia was reported to be cutting output, adding to the supply squeeze due to disruption in the Strait of Hormuz.Finance ministers of developed G7 nations, who met Monday evening, deferred plans to tap their strategic reserves to cool down the global flare-up in prices, while vowing to keep close tabs on the evolving supply situation.Although Brent prices touched the highest level seen since mid-2022, govt officials said there was no immediate plan to increase pump prices of fuel in India. “We are nicely placed vis-a-vis crude. There is unlikely to be a rise in petrol and diesel prices in the foreseeable future, even if prices remain at $110-120 a barrel,” said a senior govt official.
Iran conflict sends Brent soaring 65% since Feb 28
The Indian basket was on the verge of hitting $100 a barrel after having reached $99.12 on Friday, almost 40% higher than the Feb 27 level of $71.19. Since Feb 28, when the US and Israel bombed Iran, global benchmark Brent has surged as much as 65%.The statement came amid reports that Saudi Aramco had begun reducing production from two of its fields, joining Iraq, Kuwait, Qatar and the UAE, as they ran out of storage due to blocked shipments.Govt officials, however, reiterated that India has sufficient stock of oil and gas to meet domestic requirements. They also sought to dispel rumours of a scarcity of fuel and dismissed reports of shortages anywhere in the country. Officials also maintained there are adequate stocks of aviation turbine fuel. “India is also a producer and exporter of ATF; there is no need to worry,” said one of them.The disruptions have prompted govts to initiate emergency action. For instance, Japan, which imports around 95% of its oil from West Asia, has instructed a national oil reserve storage site to prepare for a possible crude release, while China has asked refiners to halt fuel exports. South Korea has capped prices for the first time in 30 years, while Vietnam removed import tariffs on fuels. Bangladesh has shut universities to conserve electricity and fuel.Panic across markets prompted G7 finance ministers to consider releasing crude from strategic reserves, a step officials said was not being considered by India as it sought to secure its supply lines.India, world’s third-largest oil-importing and consuming nation, has 5.3 million tonnes of underground strategic reserves, which are at 80% of their capacity. “The crisis (that led to a rise in prices) is not our creation. Those responsible have to deal with it and create situations to ease (prices). Ours is an India first policy,” said a govt functionary.India is not a full member of IEA and does not have an obligation to follow the diktat of the international body, officials added.
Sensex, Nifty 50 Stock Market Today Live Updates: Sensex Up 360 Points, Nifty Above 24,100; India VIX Falls Over 15%
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Gold & Silver Prices Rise Sharply On Tuesday: Check City-Wise Rates On March 10
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