Responding to the news yesterday that the Chancellor of the
Exchequer, , is to increase funding for
the Oxford to Cambridge Growth Corridor to £800m, Mayor of
Cambridgeshire and Peteborough, , has made the following
statement:
"This is welcome news and represents
real progress on the ambition I set out in the Local Growth Plan
to triple the size of the Cambridgeshire and Peterborough economy
by 2050.
"The £800 million now available for
the Oxford to Cambridge Growth Corridor
is double the original commitment and is a
recognition of what our region has long been saying is at
stake. Cambridgeshire and Peterborough is one
of our strongest, most cutting-edge and
fastest-growing economies, but that
success isn't guaranteed. Our economy needs
this level of investment
to ensure a success story that's crucial
to the UK's industrial future goes to the next level
and doesn't tail off.
"I've said consistently that we're
ready to deliver, but Government must match our
ambition. Yesterday's announcement, alongside the
consultation on a Greater Cambridge Development
Corporation, is an important
step.
"The funding will help unlock new
homes, labs, transport and infrastructure that our region
desperately needs. Combined with a development corporation that
can speed up delivery, we have the tools to tackle infrastructure
constraints which have been put off for too
long.
"The Oxford to Cambridge
corridor connects our region to other innovative economies,
and that benefits Peterborough, the Fens, Huntingdonshire, and
communities right across Cambridgeshire and
Peterborough.
"I'll continue working with Government
and local partners to make sure this investment delivers for our
residents and that means better jobs, stronger
businesses, and the infrastructure that enables growth to work
for everyone."
Notes to editors
1) Read the Chancellor's Mais Lecture at Bayes Business School:
https://www.gov.uk/government/speeches/mais-lecture-2026
2) HM Treasury press release on the corridor: https://www.gov.uk/government/news/oxford-cambridge-corridor-to-be-uks-silicon-valley
