The chancellor has pledged up to £200m of public investment for a 15,000 home garden city near the high speed rail station in Ebbsfleet, Kent.
The development will be built on existing brownfield land, including former industrial sites and a former quarry, on the Thames Estuary.
Speaking on BBC One’s The Andrew Marr Show, Mr Osborne said: “Ebbsfleet [has] the land available… fantastic infrastructure, with the high speed line, it’s on the river and is it in the South-east of England where all of the housing pressures have been and crucially you have got local communities and local MPs who support the idea.”
The government wants to create a new body - similar to what happened in Docklands in the 1980s – to promote the area, co-ordinate investment from government and solve the issues that have held back development in the region.
The new body would be a ‘Garden City Development Corporation’, with a mandate to build high quality places to live – modelled on garden cities like Letchworth or Welwyn Garden City.