In a speech in Oxfordshire today, Chancellor Rachel Reeves outlined new plans to deliver the 'Oxford-Cambridge Growth Corridor' that will boost the UK economy by up to £78 billion by 2035, according to industry experts.
Her speech confirmed the appointment of Lord Patrick Vallance as Oxford-Cambridge Growth Corridor Champion.
In response, Chair of England’s Economic Heartland, Cllr Liz Leffman, said: “The Chancellor rightly highlights the huge potential of our region to significantly contribute to UK economic growth. Through regional collaboration, including via EEH, local leaders are already working closely with businesses and universities to seize these opportunities.
"I welcome Lord Patrick Vallance to his new role and look forward to working with him. Moving forwards, it is important that lessons from the past are learnt. There must be genuine and trusted collaboration between Government, local leaders and the private sector which builds on the strengths of existing partnerships. It is important that the work already carried out by EEH and other local and regional partners informs future decisions: we must keep momentum, not go back to the drawing board.
“As the Chancellor stated, East West Rail will transform the Oxford-Milton Keynes-Cambridge region. The benefits from Government’s investment must be maximised for the economy, skills, communities, nature and wider connectivity. EEH is working to make sure there is a single, integrated transport system – ensuring as many people and businesses as possible can access East West Rail. By integrating an ‘East West Main Line’ into the wider transport system, the impact of investment will be felt beyond the core route: including in places such as Aylesbury, Northamptonshire, Luton, Swindon, Bristol, West Midlands, Hertfordshire, Ipswich and Norwich.
“Supporting our freight and logistics sector is the building block of economic growth. Upgrading Ely Junction in Cambridgeshire will transform the way goods are transported between Port of Felixstowe and the Midlands and North. Targeted improvements which ensure our strategic roads can continue to support economic growth are also vital. EEH has previously worked with Department for Transport and National Highways on a major study which identifies priority interventions, and it is imperative that these are progressed.
“The launch of the ‘Oxford-Cambridge Growth Corridor’ is an important moment for our region. By working in a spirit of genuine collaboration across the public and private sector we can collectively deliver the exciting opportunities outlined today by the Chancellor.”