I am delighted to be here in Docklands today to see for myself the remarkable progress that is being made; and to inaugurate this extremely important development scheme.
Delighted, because what is happening in Docklands is such a successful example of the Government's policies in action.
On coming into office, we set up the 2 urban development corporations, one here in London's docklands and the other on Merseyside. [end p1] Over the years it had become obvious that the local authorities, faced with the sheer magnitude of the tasks involved had failed to tackle them effectively.
I am told that it is now 15 years since Bob Mellish first put forward the suggestion that London docklands ought to have a development corporation rather like the new town development corporation. [end p2]
The London Docklands Development Corporation, with its single-minded application to the task and with expertise in the world of business and development, is achieving in 3 years changes that had eluded its predecessors for nearly 30 years. [end p3]
And that is what our policy in Docklands is all about It's about getting things done: about matching the skills available to the job in hand.
It's about making the most of our assets: about bringing derelict urban land back into use, and reducing the pressure for development in the countryside.
Through an energetic programme of works and skilled marketing, the Corporation has prepared and released for development over 300 acres of [end p4] land—land which the local authorities and other public bodies had been unable to bring into productive use.
It's about turning problems into opportunities. About taking advantage of docklands' closeness to the centre of the capital; immediate access to the best of new technology communications; and the enormous potential for superb waterside environments. [end p5]
It's about home ownership. It is scarcely credible that in 1981 when we set up LDDC only one in twenty Docklands households owned their own home. Already almost twice that number does.
Over 1000 new homes have been completed on LDDC sites, mostly for owner occupation, and work is underway on sites which will provide two thousand more. Within another two years, LDDC expects that 30%; of housing in Docklands should be owner occupied. [end p6]
It's about cutting down on officialdom and bureaucracy. This is particularly so here in the Enterprise Zone, where we have simplified the planning system and special procedures are in operation to minimise delay.
It's about a partnership between public and private investment. So far the Government, through LDDC, has ploughed £135m into land reclamation, infrastructure and services, support for industry, environmental improvements and community facilities. [end p7]
In the Enterprise Zone alone, £15 million has been spent on providing new roads, drains and services. And already in return, private sector investment worth £140 million has been secured in the Zone.
I understand that a thousand permanent jobs have been attracted and many more are to come—up to 1500 right here where we are standing. [end p8] Elsewhere, another £150 million of investment by private housebuilders has been harnessed.
It's about investment in modern industries, jobs, housing, a better environment and better social facilities. In fact it's about hope for the future.
Mr. Broackes ' team deserve great credit for the effort they have put into the task and the judgement they have displayed. [end p9] Credit is due to those in the business community who have responded to the challenge by investing here—particularly firms like Tarmac, who will be providing £50 million worth of offices, business units, new homes and amenities on this site. And to every one of the thousand and more householders who have put their money into a Docklands home.
Because, after all, this enterprise is about people. [end p10]
We're not doing it for the sake of the Government.
We're not doing it just for the sake of business, or just for the sake of those who can afford to own their homes.
We're doing it for those who live and work here now and for those who will live and work here in the future. We're doing it for docklands.