I am today setting out further steps that the Government are taking to expedite ambitious growth in Greater Oxford as part of our ongoing efforts to realise the full potential of the Oxford-Cambridge corridor.
The Oxford-Cambridge region is already a world-leading innovation corridor. Anchored by two of the world’s best universities, it is a hub for globally renowned science and technology firms, a breeding ground for internationally successful start-ups, and a magnet for talent and ambition. It has the potential to become one of the most innovative and economically dynamic areas in the world.
Maximising the full potential of the Oxford-Cambridge corridor requires us to identify and take advantage of the numerous growth opportunities that exist in the region. Oxford and its surrounding areas offer one such opportunity. Located at the western end of the corridor, Oxford already has one of the fastest-growing economies in the UK, driven by its world-leading technology, life sciences, and knowledge-intensive sectors from advanced manufacturing to artificial intelligence.
However, while the city and its environs are perfectly placed to deliver nationally significant growth to the benefit of existing and new communities and the country as a whole, numerous long-standing constraints risk undermining its full potential. These include inadequate transport connections, a lack of affordable housing, and energy and sewage capacity pressures.
In May 2025, I appointed Neale Coleman as chair of the Oxford Growth Commission and tasked him with identifying how best to unlock new development and accelerate growth across Oxford and its surrounding areas. The OGC’s interim report, published on 15 December 2025, recommended that a priority for the next 12 months should be consideration of the need for an appropriate delivery vehicle to support development in and around Oxford.
To take full advantage of Greater Oxford’s unique assets and ensure that we maximise its contribution to national economic growth, the Government are convinced that a bold place-based intervention is required to address the constraints it faces. I am therefore announcing today that we intend to consult on establishing a centrally-led development corporation to deliver nationally significant growth in Greater Oxford.
To ensure that such growth is inclusive and sustainable, and that its benefits will be felt by existing as well as new communities, we are committed to an ongoing partnership with local leaders, communities and residents. Their insights, knowledge and direct input will help shape the delivery vehicle’s ambition and focus. Should a decision be taken to establish a centrally-led development corporation, it is our intention that local democratically elected leaders would be invited to join the board. There will be opportunities to formally shape the Government’s proposals as part of the future consultation process.
Finally, to strengthen our commitment to supercharge growth in the Oxford-Cambridge corridor, I am pleased to announce that the Government will double its initial £400 million investment, meaning that up to £800 million will now be available to help bring forward development in this critical economic area.
We will continue to update Parliament on the Government’s work in Greater Oxford and the Oxford-Cambridge growth corridor.
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