page_title: London Borough of Tower Hamlets
section_title: Economy
hierarchical_section_title: London Borough of Tower Hamlets / Economy
caption_attribution_description: English: Looking towards 1 Canada Square over the City Canal.
context_page_description: The London Borough of Tower Hamlets is a London borough located in East London; it covers much of the traditional East End. It was formed in 1965 from the merger of the former metropolitan boroughs of Stepney, Poplar and Bethnal Green. The new authority's unusual name was taken from an alternative title for the Tower Division; the area of south-east Middlesex, focused on the area of the modern borough, which owed military service to the Tower of London.
  The borough lies adjacent to the east side of the City of London and on the north bank of the River Thames. It includes much of the redeveloped Docklands region of London, including West India Docks and Canary Wharf. Many of the tallest buildings in London occupy the centre of the Isle of Dogs in the south of the borough. A part of the Queen Elizabeth Olympic Park is in Tower Hamlets. The borough has a population of 272,890, which includes one of the highest Muslim populations in the country and has an established British Bangladeshi business and residential community.
context_section_description: The borough hosts the world headquarters of many global financial businesses, employing some of the highest paid workers in London, but also has a high rates of long-term illness and premature death and the 2nd highest unemployment rate in London.
  Canary Wharf is home to the world or European headquarters of numerous major banks and professional services firms including Barclays, Citigroup, Clifford Chance, Credit Suisse, Infosys, Fitch Ratings, HSBC, J.P. Morgan, KPMG, MetLife, Morgan Stanley, RBC, Skadden, State Street and Thomson Reuters. Savills, a top-end estate agency recommends that 'extreme luxury' and ultra-modern residential properties are to be found at Canary Riverside, West India Quay, Pan Peninsula and Neo Bankside.
  The End Child Poverty coalition published that Tower Hamlets has the highest proportion of children in poverty of any local authority in the UK at 49% (and as high as 54.5% in the Bethnal Green South ward).
  Surveys and interviews conducted by the Child Poverty Action group for the council found that the Universal Credit system was deeply unpopular with low-income families in the borough and that most claimants who have used the system found it difficult to understand and experienced frequent payment errors.
caption: One Canada Square, the 15th-tallest building in Europe and currently the second tallest completed building in the United Kingdom, the tallest being The Shard
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