Rachel Reeves is expected to announce funding for an extension of the Docklands Light Railway at next week’s budget in an attempt to secure thousands of new homes.
A Treasury source said the chancellor is expected to back the extension of the DLR to Thamesmead, in south-east London. The area has long been without public transport, which has been blamed for preventing the redevelopment of a riverside site that could include new homes.
The source said the extension would “deliver much-needed new homes, new jobs, and quicker commutes – the building blocks for boosting growth, putting more pounds in pockets”.
Extending the line to Thamesmead – perhaps best known as the location of the brutalist 1960s estate that appeared in Stanley Kubrick’s dystopian film A Clockwork Orange – is expected to cost about £1.7bn and has been backed by London’s mayor, Sadiq Khan.
The line would be extended from Gallions Reach, near London City airport, and include a new station at Beckton, as well as in Thamesmead itself.
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Journeys from Thamesmead into the City of London currently take about an hour, and travelling to Stratford takes between 45 and 55 minutes. The new line could cut journey times into London to 35-40 minutes, and journeys to Stratford to 30 minutes.
The new line is also expected to unlock land for 25,000 new homes and up to 10,000 new jobs, along with almost £18bn of private investment in the area.
Khan said: “I’m really pleased that the government is backing the DLR extension to Thamesmead, something I’ve long called for alongside London’s businesses and communities. The project is a win-win and a massive vote of confidence in London.
“It will not only transform travel in a historically under-served part of the capital but also unlock thousands of new jobs and homes, boosting the economy not just locally but nationally.”
