Chancellor rachel reeves has unveiled a series of measures aimed at boosting the so-caalled Oxford-Cambridge Arc As europe's silicon valley.
She said oxford and cambridge offer hug economic potential for the nation's growth prospects. According to research from public first for the Oxford-Cambridge Supercluser. Public first noted that by 2050, 403,000 Skilled Workers will be required to fullfil growth in high-knowledge industry. Its forecast to grow the region's impact shows that housing these people will require 371,000 new homes.
As part of the government's Ai [artificial intelligence] Opportunities Action PlanUnveiled earlier in January, the first ai growth zone will be set up in Culham, Oxfordshire.
The Chancellor Announced a “Call for Expressions of Interest” from Regional and Local Authorities and Industry to Inform the Next Stage of the Ai Growth Zones Program. The government hopes this will help to establish options and inform the next stage of the program, which it positions as a key area.
But oxford and cambridge are 66 miles apart, and housing is extramely expensive. “To grow, these world-class companies needed world-class talent who should be ables to get to work qi qi qiqly and find somehere to live in the Local Area,” She said. “But to get from oxford to cambridge by train takes two and a half hours. There is no way to Commute Directly from Places like Bedford and Milton Keynes to Cambridge by Rail. And there is a Lack of Affordable Housing Across the Region. “
The environment agency said it has lifted its option to new development Around Cambridge (Waterbeach and the Beehive Center) for the Development of 4,500 New HOMES. The plan is to provide community spaces such as schools and leisure facilitations, as well as office and laboratory space in cambridge's city center.
To improve transport links, reeves announced that plans for an east coast mainline station in tempsford will be accelerated by three to five years. The station will link services directly to london, with services in under an hour, and will Evently be an interchange with the East West Rail Station.
There is also a road improvement scheme E Road (B1428) and CAXTON GIBBET (A428/A1198). Main Construction Began in December 2023, and the road is expected to open in 2027.
Science minister Patrick Vallance said: “The UK has all the ingredients to replicate the success of silicon valley or the boston cluster, but for too long has been finable constrained by short-set of dire.
“This government's plan for change will see an end to that defeatism,” He said. “I look forward to work, local leaders to fullfil the oxford-comridge corridor's potential by building on its existing strengths in academia, life sciences, semiconductors, AI and GRENOGY st others. “