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Thames Gateway

We should not simply accept that new building pushes up costs. That has been a mistake too often in the past, but we should do what we can to bring down costs, which is why the Deputy Prime Minister launched a competition to design a house for £60,000. Everyone said that it could not be done, but there has been a great deal of interest, and many organisations, companies and registered social landlords have shown that it is a possible to build a well designed house at an affordable price. We should therefore do more to bring construction costs down. There is already a great deal of investment in the Thames Gateway, but additional investment will be required for the Olympics infrastructure. Far more public investment has gone into that area to the east of London than ever before. It is a great opportunity, and we should make the most of it.