First, Mr. Reichmann may I for all your guests thank you and your colleagues for inviting us here today to mark the formal beginning of the Canary Wharf project. Secondly, I would like to tell everyone here how impressed I have been during my visit to Canary Wharf itself by Olympia and York's commitment to London and to Docklands. I share the sense of excitement that your [end p1] managers, designers, contractors and prospective tenants clearly do have in being part of such an ambitious well-prepared development.
I cannot emphasise too much that it is really time to shout the praises of what is happening in Docklands. Do go out and look for yourselves what is happening in London's Docklands. [end p2] Canary Wharf is remarkable in itself. It is as you know the largest single commercial development in the world. But it is only one of the many exciting things you can see happening. In a few years we have begun to transform Docklands from a wasteland of industrial dereliction into a lively varied new centre of employment, housing and leisure for London. [end p3]
Of course initially development had to be the priority for the London Docklands Development Corporation. We owe a lot to the leadership of Sir Nigel Broackes and Sir Christopher Benson as successive LDDC Chairmen. Now, as private sector investment continues to flow into Docklands, we will need to work hard to establish a balanced [end p4] community with a range of services, including improved low-cost housing for the growing number of people attracted to visit, work and live in the area. Particularly I welcome the Docklands Compact and hope employers working with local schools and the training agencies will find more opportunities for Eastenders. [end p5]
I recognise that the scale of private investment would never have been attracted without the Government putting in a single planning authority to speed decisions and to press ahead with the necessary new infrastructure. I recognise that better access to Docklands will be a cornerstone of the success of Canary Wharf and other projects. [end p6] I am determined, as are Nicholas Ridley and Paul Channon, to press ahead as quickly as possible with the new road and rail schemes to serve Docklands.
I am delighted to declare the Canary Wharf development well launched. It will make a great contribution to our capital city. And I return to No. 10 full of enthusiasm [end p7] for what the Canary Wharf team are trying to achieve.