Launched this morning, the 2014 Wolfson Economics Prize is offering £250,000 to the author of the best plan to create a new garden city.
“Garden cities provide a potential answer to the housing crisis in the UK,” Lord Wolfson said. “I want to challenge people to design a new city which is a credit to our age – architecturally inspiring, practical and desirable.”
The prize has been welcomed by groups such as Shelter and Priced Out, which campaign for answers to a shortage of housing in key parts of the UK. It was also cautiously welcomed by the Countryside Alliance.
The prize is the second largest for economics after the Nobel prize. In 2012 it was awarded to Capital Economics for its proposal on how a country could leave the Eurozone.