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Ken Livingstone, former mayor and Labour candidate for London 2012 makes a keynote speech at the inaugural London Policy Conference on 13 December 2011. The Labour candidate announced his campaign for a 'London living rent', saying no-one should pay more than a third of their wage on rent and that a London living rent would be a fairer system. He said the cost of private rents was an issue affecting both low and middle income earners, because the average rent was now £1,000 per month, which works out at over 50 per cent of the average London income. Livingstone also announced his plan to establish the first London-wide non-profit lettings agency. 'It will put good tenants in touch with good landlords ... so that both can benefit from security of tenure and reduce the costs of letting.' To find out more about the London Policy Conference visit http://www.londonpolicyconference.com/ For more information about IPPR visit our website - http://www.ippr.org/