photo Matt J Newman (Creative Commons)

photo Matt J Newman (Creative Commons)   (Click to enlarge: opens in new window)

In parts of London and Greater Manchester you are now more likely to grow up poor than not.

The east London borough of Tower Hamlets has a 53% child poverty rate. In the Coldhurst ward of Oldham it’s 62%, according to the End Child Poverty charity coalition.

More than two in five kids live in poverty in 25 parliamentary constituencies. Most are in the three largest urban areas: London, Birmingham and Greater Manchester – but there are patches across Britain.

It’s obvious why. Cuts to wages and benefits while living costs rise.

Where does the money from those cuts and price hikes go? Here’s a clue: last year Britain contained more billionaires than at any time in history. 134 billionaires, worth over £301 billion, according to the Sunday Times Rich List.