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Occupy London Tour Shows Where Bankers Profit Amid Poverty

Nowhere is the divide between rich and poor more evident than in Tower Hamlets and Canary Wharf. The borough that takes its name from the Tower of London has one of the highest rates of young people receiving jobless benefits in London, the highest proportion of poor children and older people in England and the worst child poverty in the U.K. In its midst is the Canary Wharf financial district, the base for companies that pay some of the highest salaries in the world. They include Barclays Plc and HSBC Holdings Plc of the U.K., Switzerland’s Credit Suisse Group AG and the European operations of U.S.-based Citigroup Inc., JPMorgan Chase & Co., Morgan Stanley and Bank of America Corp. An Occupy London activist leads tours of the riverside oasis of wealth to show, he says, how the 1 percent enriches itself at the expense of the rest.

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Unemployment rate, 16- to 24-year-olds

Results from the Office of National Statistics' March 2012 survey of youths living in London and claiming jobless benefits.

Local Authority | Claimant rate

Barking & Dagenham
Waltham Forest
Haringey
Tower Hamlets
Newham
Lewisham
Hackney
Enfield
Lambeth
Greenwich
Croydon
Brent
Southwark
Havering
Islington
Redbridge
Ealing
Bexley
Hammersmith & Fulham
Bromley
Wandsworth
Hounslow
Merton
Sutton
Barnet
Harrow
Hillingdon
Camden
Kensington & Chelsea
Westminster
Richmond upon Thames
Kingston upon Thames
City of London
   9.9%
9.6
9.1
9.0
8.9
8.6
8.5
8.4
8.2
7.7
7.6
7.3
6.8
6.6
6.6
6.2
6.1
5.5
5.4
5.2
5.2
5.1
4.9
4.9
4.3
4.1
3.9
3.5
3.4
3.1
2.4
2.2
1.6

Comparing demographics

CACI Ltd. prepares demographic reports on the U.K. population by neighborhood, based on government data and consumer research.

Tower Hamlets

London

Percentage of population categorized as:

"Educated urbanites"

"Inner city adversity"

33.1%
31.1 
58.2%
16.3 

Child Poverty Estimates for London Boroughs

According to a study conducted by the Centre for Research in Social Policy, 52 percent of children in Tower Hamlets were living in poverty in mid-2011, the highest rate in the United Kingdom. That compares with a national average of one in five children living in poverty. The study's estimates
are the most recent data available and are based on tax credit data and regional trends in joblessness.

  • 0%
  • 10%
  • 20%
  • 30%
  • 40%
  • 50% or more
Map of London boroughs
Enfield
Barnet
Haringey
Waltham
Forest
Redbridge
Havering
Bexley
Bromley
Croydon
Sutton
Merton
Kingston
upon
Thames
Richmond
upon
Thames
Wandsworth
Lambeth
Southwark
Lewisham
Greenwich
Barking &
Dagenham
Hillingdon
Harrow
Ealing
Brent
Camden
Islington
Hackney
Tower
Hamlets
City
Kensington &
Chelsea
Hammersmith &
Fulham
City of
Westminster
Hounslow
Newham
Ireland
United
Kingdom
London
Atlantic
Ocean
5 mi
10 km

Sources: Office of National Statistics, Donald Hirsch and Jacqueline Beckhelling of the Centre for Research in Social Policy, CACI Ltd.


Meet the People

Residents of Tower Hamlets and Canary Wharf discuss corruption, inequality and opportunity

Two worlds collide in Tower Hamlets, as the very rich and the very poor occupy the same eight square miles of borough. Hear what these residents have to say by clicking on their picture at the right.

Photographer: Matthew Lloyd/Bloomberg

Tower Hamlets

Young Foundation
2012 Olympic stadium
Langdon Park School
HSBC
Holdings Plc
Bank of America
Corp.
J.P. Morgan
Chase & Co.
Morgan
Stanley
Citigroup Inc.
Barclays Plc
Robin Hood
Gardens Estate
1 mi
2 km

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