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Thames Gateway

My hon. Friend is exactly right. However, I want to talk about the area’s economic potential before I discuss housing, because too often people talk about the Thames Gateway simply in the context of housing. I think that the Thames Gateway’s economic regeneration potential is the most exciting thing about the region, because such regeneration will make it possible to develop housing in the Thames Gateway for the next generation. The area has remarkable economic potential for the creation of new jobs and investment. It is to the east of a fantastic capital city. Its economic potential, owing to its low-cost brownfield land and good access to the capital city, is something into which we have not yet tapped, so we need to do more. The Olympics will obviously present us with a great opportunity and I shall mention that later in my speech. The Thames Gateway has nearly 4,000 hectares of brownfield land—about 17 per cent. of the south-east’s total—located between London and mainland Europe. The fact that it has been undeveloped for so long is partly because of the area’s industrial tradition and also a huge example of market failure, given its location. The decision to route the channel tunnel rail link through the Gateway is critical, as is the creation of new stations at Stratford and Ebbsfleet. That will provide economic opportunities, providing links not only to the capital city, but to Europe. As I said, the economic potential is immense. We need to work with the three regional development agencies that cover the Thames Gateway. The area that was the industrial powerhouse of London and the southern counties can be so again if developed in the right way. It is a great area to invest in—close to the heart of London and the increasingly accessible markets of continental Europe. Earlier this year, the Prime Minister and Deputy Minister launched ““Sustainable Communities: Delivering the Thames Gateway””, a strategic vision for the programme, showing what we have achieved so far and the vision for the future. We need to remember that much of the Gateway is part of the city and therefore presents great opportunities for regenerating the east of the capital as well as the towns and communities that stretch out of London along the Gateway. Already, over £1 billion has gone into transport infrastructure in the Thames Gateway to unlock the growth potential and support the communities, including the new high-speed domestic services for the channel tunnel rail link, which will operate from 2009, a new bus transit system for north Kent, and improvements to the public transport network in east London. We have also created a new £200 million community infrastructure fund specifically for the delivery of transport infrastructure in the growth areas, and we will be making announcements on the allocations from that fund by the end of the year. We should not underestimate the importance of skills. When we talk about infrastructure we always think of transport; in fact, the skills and education infrastructure, the support for people in the Thames Gateway, is perhaps most critical for investment and economic growth. That is why we are expanding three new universities, at East London, Medway and Southend, to increase access to learning and to raise skills throughout the area, and new university facilities and buildings are being used by students at the unique multiversity campus at Chatham Maritime. We are working to upskill the local market and create more choice and a different range of jobs in the area.