I am today updating the House on the Government’s plans to supercharge growth in the Oxford-Cambridge corridor and the high-potential sectors within it, as part of our ambitious plan for change.
The Oxford-Cambridge region is already home to world-leading universities and globally renowned science and technology firms. It has the potential to become one of the most innovative and economically dynamic areas in the world, but numerous constraints, from inadequate transport connections to a lack of affordable housing, prevent it from realising its true potential. This Government are determined to do what is necessary to drive sustainable economic growth in the region to the benefit of local communities and national prosperity.
The Chancellor has today announced the appointment of Lord Patrick Vallance as a champion for the Oxford-Cambridge growth corridor. His extensive experience across life sciences, academia and Government makes him ideally suited to identify and maximise growth opportunities in the region. He will work with me and other Ministers to ensure the corridor makes a significant contribution to kick-starting economic growth.
Working with local partners, Peter Freeman and the Cambridge Growth Company are progressing the development of an ambitious plan for delivering high-quality sustainable growth in Cambridge and its environs. Their work will continue in earnest.
In greater Cambridge, the benefits of decisive Government intervention are already evident. As a result of close working with local authorities and regulators, the Environment Agency has lifted objections to development in the area, paving the way for 4,500 additional homes, new schools and new office, retail and laboratory space to be built.
The Government welcome the University of Cambridge’s proposal for a new flagship innovation hub in the centre of the city, which will attract global investment and foster a community that catalyses innovation. The Chancellor has today also confirmed the prioritisation of a new Cambridge cancer research hospital as part of the new hospitals programme, bringing together Cambridge University Hospitals’ cancer services, with researchers from AstraZeneca and Cancer Research UK.
To ensure we can realise Oxford’s full potential, we intend to take forward a new growth commission to explore how we can best unlock and accelerate nationally significant growth for the city and the surrounding area. The commission builds on the Government’s commitment to making Culham in Oxfordshire the country’s first AI growth zone as part of the Government’s AI opportunities action plan. This is the Government’s modern industrial strategy in action.
Across the Oxford-Cambridge growth corridor, we are demonstrating our commitment to investing in the delivery of major transport infrastructure and public services to boost the region’s economic prosperity and contribute to national economic growth. The Government are:
delivering the acceleration of phase 2 of East West Rail, connecting Oxford to Bedford from 2030. The full new railway to Cambridge will support vibrant new and expanded communities. We have already received 18 submissions for large-scale new developments within the corridor, each of which will be considered by the new towns taskforce;
moving quicker at Tempsford to deliver an east coast main line station three to five years earlier than planned, which will link services directly to London in under an hour;
committed to upgrading 10 miles of the A428, improving journeys between Milton Keynes and Cambridge; and
unlocking £7.9 billion investment in the next five years for water companies, by agreeing their water resource management plans. This will improve our water infrastructure and provide a foundation for growth and includes nine new reservoirs, such as the new fens reservoir serving Cambridge and the Abingdon reservoir near Oxford.
We will continue to update Parliament on the work of the Government in the Oxford-Cambridge corridor.
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