Growth corridor cash will help unlock local land for homes
18/03/2026
Banbury’s MP says the money will supercharge our area’s contribution to the UK’s economic strength
Additional cash is being made available to help get access to land currently held, but unused, by developers in our area.
Yesterday, Chancellor Rachel Reeves announced plans to accelerate action in the Oxford–Cambridge Growth Corridor, doubling the Government’s initial commitment by making over £800 million available for the project. This will be utilised for upfront land acquisition and infrastructure to help unlock sites for new homes. Views will also be sought on the creation of a development corporation for Greater Oxford.
Banbury’s MP, Sean Woodcock, has welcomed the move.
By using compulsory purchase powers to overcome land banking, the government aims to fast-track high-quality residential projects. Its hoped this will provide more affordable options for Banbury’s young professionals and families who are currently being priced out of the Oxford market.
In addition the Banbury area will be well positioned as a primary hub for advanced manufacturing sites. The investment will help upgrade local business parks, aiming to make North Oxfordshire an even more attractive destination for firms looking for high-spec space.
Mr Woodcock said: “I am pleased to see this extra investment in the Oxford to Cambridge Growth Corridor. This area already is a source of economic strength to the UK. This investment has real potential to supercharge that, delivering benefits to all who live here and the UK as a whole.”
Published: by the Banbury FM News Team
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