Yoked Fitness is raising funds to support the Hackney Night Shelter and to raise awareness about wealth inequality.

Hackney Night Shelter provides emergency accommodation, meals, and support for up to 26 people in East London experiencing homelessness. They receive no government funding and rely on donations to provide their services.

With rising housing costs and a lack of affordable options in the area, the shelter provides a safe place to sleep and nutritious meals away from the harsh reality and danger of living on the streets.

Guests are able to access medical treatment and for some, being signposted to legal or financial advice is a first step in addressing some of the barriers that they need to overcome.

While your donation will provide a bridge for our homeless community members, wealth inequality and underinvestment in public services are at the root cause of the problem.

Ilford born economist, Gary Stevenson, states:

Wealth inequality pushes house prices up, money printing (inflation) pushes house prices up, house prices go through the roof, while at the same time wealth inequality pushes wages down. The net effect of this is house prices go up and your wages stay the same.'

This systemic issues creates a cycle where the wealthiest thrive and compete with one another to buy up assets such as housing. This drives up demand for assets, which also drives up house prices.

Addressing homelessness, at its root cause, requires in large part, tackling wealth inequality and reinvesting in public services to ensure everyone has access to housing and opportunity.

Gary Stevenson provides many strategies to reduce wealth inequality and 3 such examples are:

1. Implement a Wealth Tax

He has proposed a 1% tax to be levied on individuals who’s wealth exceeds 10 million pounds.

2. Invest in Affordable Housing

Allocating government funds to develop and maintain affordable housing options, ensuring that low-income individuals have access to stable living conditions.

3. Strengthening Social Safety Nets

Investing in public services such as healthcare, education, and employment support redistributes wealth while providing a robust foundation for individuals to achieve economic stability and prevent homelessness.

This fundraiser is not just about raising funds to provide to Hackney Night Shelter, but also to raise awareness for the rising rates of wealth inequality and understanding why housing is so hard to come by and unaffordable for an ever increasing amount of Londoners.

The video below is Gary Stevenson explaining why housing is so expensive.

https://www.youtube.com/watch?v=Qlr5Vzrextk

Like, share, and subscribe to Gary Stevenson to learn more about how, together, we can reduce wealth inequality, addressing the root cause of homelessness.