Developers behind plans for a Paramount theme park have welcomed the Chancellor's announcement about the creation of a new garden city in Kent.

London Resort Company Holdings said in a short statement it believes Mr Osborne's plans for 15,000 new homes in Ebbsfleet will "help to consolidate the exciting vision for the area".

The firm wants to build a £2bn entertainment complex on the Swanscombe Peninsula, next to Ebbsfleet, creating 27,000 jobs.

The Chancellor's announcement at the weekend is yet another boost to the plans after it was announced in December that Swanscombe would not be considered as a location for a new Thames crossing.

A spokesman for London Resort Company Holdings said: "We welcome the announcement by the Chancellor for the new Garden City at Ebbsfleet and we believe this will help to consolidate the exciting vision for the area.

"We continue to develop our proposals and look forward to talking with the local community when we are in a position to share the detail."

In a tweet sent out ahead of this week's budget, Mr Osborne said: "We're going to invest £200m to support 15,000 new homes and create the first Garden City for almost 100 years in Ebbsfleet Kent."

The Chancellor also announced the Help to Buy scheme will be extended by another four years to 2020, at a cost of £6bn.

The government will now consider whether to set up an Urban Development Corporation for the area.

The QUANGO would be charged with kick-starting regeneration, operating outside the usual council planning regulations.

Commercial property developers Land Securities own much of the land in the Ebbsfleet Valley, where the housing would be built.

A spokesperson said: “Land Securities welcomes the government’s announcement that it will be consulting on the creation of an Urban Development Corporation for Ebbsfleet Valley.

"The new arrangements should make it easier, quicker and cheaper to deliver a new garden city at Ebbsfleet and provide thousands of much needed new homes in the South East.

"Parts of Ebbsfleet Valley today still resemble a quarry (its former use) and significant further investment is needed before homes can be built at scale – government support, through a new UDC, will therefore be vital in delivering a garden city quickly.”

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