Paul Bristow statement on Government announcement of £800 million for Oxford-Cambridge corridor

Paul Bristow statement on Government announcement of £800 million for Oxford-Cambridge corridor

Responding to the news yesterday that the Chancellor of the Exchequer, Rachel Reeves, is to increase funding for the Oxford to Cambridge Growth Corridor to £800m, Mayor of Cambridgeshire and Peteborough, Paul Bristow, 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.” 

Read the HM Treasury press release on the corridor announcement: https://www.gov.uk/government/news/oxford-cambridge-corridor-to-be-uks-silicon-valley