Rachel Reeves announced her plans for the economy in parliament this afternoon
London’s DLR extension has been given the green light from the Chancellor. Rachel Reeves announced her plans for the economy in parliament this afternoon.
Her second budget set out a series of tax rises to fill a black hole in public finances. Ms Reeves also announced a series of measures aimed at helping people who are currently struggling with living costs, including a long-expected end to the two-child limit on benefits.
The announcement followed a shocking early-release of an analysis of the budget by the Office for Budget Responsibility. The OBR has apologised for this error.
But amongst the national policy Londoners will be delighted to hear that the planned DLR extension to Thamesmead got a mention in Labour’s budget. The Government confirmed that it will continue contributing funding over the long-term to the project, while the majority of the funding will be met by Transport for London and the Greater London Authority borrowing.
The government has also said that it will continue to work with London to finalise funding details and continue to work with the GLA to look at options for “innovative financing” to support projects in the capital.
The new Thamesmead station could open as early as 2032, Sadiq Khan has said. The extension would halve travel time to Stratford to 20 minutes and bring Canary Wharf within 25 minutes. The other new stop in Beckton would serve another part of London which is already seeing major investment into new housing and infrastructure.
Thamesmead has been earmarked by the government for redevelopment which will see 15,000 new homes built. The area has been underserved by public transport since tower blocks first went up in the 1960s.
The Mayor of London Sadiq Khan says this, combined with the DLR expansion, will be the catalyst to improve a “historically underserved part of our capital.”
In a Greater London Assembly (GLA) meeting on Thursday (November 20) he said: “This is a massive win for our city, one that I along with London’s businesses, communities and others have lobbied incredibly hard for. The DLR Line extension, which will include a new station at Beckton, is critical, not just to stimulate job creation and growth in our capital, but across the country.
“The DLR Line extension isn’t just a major infrastructure project, it’s an investment in our future and a statement of our ambition. It will also build on my administration’s record of delivery and our efforts to transform London’s public transport system for the better.”
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