East London could lose the momentum it has been gaining over the last few years because of Brexit, according to the MP for East Ham.
Stephen Timms believed that the result of the EU Referendum could affect the growth of the East End after the UK voted to leave by 51.9% to 48.1%.
Newham voted to remain in the union, albeit narrowly, with 52.8% electing to stay and 47.2% wanting to leave.
Stephen, who campaigned for Britain to remain, said: “I’m pleased that Newham voted to remain but I’m obviously disappointed the country as a whole voted to leave.
“We have done very well in east London since the Olympic Games and I think that some of that momentum is going to be lost.”
He also warned that the decision may have implications for the planned regeneration of Royal Albert Docks by Chinese developer ABP
The development would see a derelict 35-acre site next to the University of East London regenerated into a business park attracting predominantly Asian business.
The aim is to create a second Canary Wharf and a third financial district taking advantage of Crossrail and the neighbouring London City Airport to create a bridge between east and west.
But Stephen said: “I was in Beijing last weekend, meeting people from ABP, and they are very committed to coming but who knows where we may be in 10 to 20 years?”
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