Thames Gateway 'will miss target for 160,000 homes'

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The warning from Sir Bob Kerslake, chief executive of the new Homes and Communities Agency, risked blowing apart claims by housing minister Margaret Beckett that the £9billion scheme was still on track. She used a speech today to declare that she would not "start watering down" the massive housebuilding plan for a swathe of East London.

Mrs Beckett set out a 47-point plan for the area, including proposals for an "eco-quarter" to develop environmental technology, as well as up to £35million to create green and open spaces and a new scheme to tackle skills shortages.

But Sir Bob, whose new agency is due to be launched on Monday, said that recession-hit housebuilders would need a "stock-take" of the time needed to achieve the scale of housebuilding planned.

The HCA will bring the regeneration agency English Partnerships, parts of the Housing Corporation and a number of projects from the communities department, including Thames Gateway delivery, under one roof. Sir Bob told the FT: "These were clearly ambitious targets at the beginning and the market conditions have made them even more ambitious.

"I think the Gateway is capable of creating that level of jobs and housing, but what we need to look at is whether that might happen over a longer timescale."

Mrs Beckett accepted the downturn would pose challenges, but insisted this was no time to "start watering down" ambitions for the Thames Gateway. She said the scheme was a prime example of Gordon Brown's pledge to use public spending to keep the economy afloat.

"Over the past year, the first contracts have been awarded for the construction of the world's most advanced container port, London Gateway. New schools and campuses have opened across the region, including the Financial Skills Academy at Tower Hamlets. Construction has begun on the Olympic stadium three months ahead of schedule."

Sir Bob said: "We can't eliminate the credit crunch, but we can use our public investment funding to keep the show on the road."