£6m backing for jobs and homes in the Thames Estuary

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£6m backing for jobs and homes in the Thames Estuary

The Government is backing a project to create new jobs and homes in the Thames Estuary.

Almost £6 million is to be invested in two projects that could create 1.3 million new jobs locally by 2050 and generate £190 billion for the local economy.

Supporting local partners

The Thames Estuary 2050 Growth Commission will receive £1 million to establish a new Thames Estuary Growth Board that will drive economic growth in the region.

And £4.85 million has been pledged to support local partners in developing enhanced transport services between Abbey Wood and Ebbsfleet.

Meanwhile, a Cabinet-level Ministerial Champion is to be appointed to act as an advocate for the region within government.

Untapped potential

James Brokenshire, the Communities Secretary, announced the measures, saying: "The Thames Estuary has long been a gateway to the UK economy and has enormous untapped potential, which has the power to benefit those that live and work in the area.

"The government's response sets out its priorities for the Thames Estuary, including the delivery of jobs and homes, addressing local skills challenges and agreeing fully-evidenced Local Industrial Strategies."

Ambitious vision for growth

The Thames Estuary encompasses east London, north Kent and south Essex and includes the vast financial services cluster Canary Wharf.

However, with slower economic growth and higher unemployment levels than nationwide averages, the Government set up the Thames Estuary 2050 Growth Commission in 2016 to develop an ambitious vision for growth in the area.

by Frances Traynor
Tuesday 26th of March 2019 11:51:00 AM