Peter Golds: Zone is good news for east London

By Jon Massey on March 31, 2011 3:07 PM |

By Peter Golds

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The collapse of Portugal's government, which happened on Budget day and is likely to cost UK taxpayers another £3billion as we assist in bailing out their troubled economy, is an added warning of the current fragility of the economic situation and the need for policies to control borrowing. In many ways the building blocks for the Budget were set last year.

To ensure that this country does not follow Greece, Ireland and now Portugal, then the national deficit and borrowing must be reduced.

There is however some good news here in east London.

The Government is creating a series of enterprise zones which will be entitled to reduced business rates and other incentives for business to come and set up.

Mayor Boris Johnson has announced that one of these will be in 300 acres of land bordering the Royal Docks.

The success of Canary Wharf is beyond anything that could have been dreamt of 30 years ago and that started in a similar fashion.

The Royal Docks Enterprise Zone can be another world beating development in east London, which will complement the Wharf and the Olympic site.

Hopefully this proposal will also ensure that those responsible for bringing this to fruition will note that an enterprise zone will not need a cement works such as that which currently threatens Orchard Wharf.

- Peter Golds is Conservative councillor for Blackwall & Cubitt Town

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