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Thoughts on Oxford-Cambridge Growth Corridor announcement
29/01/2025
The area could become “Europe’s Silicon Valley”
Local politicians have been responding to the plans for an Oxford-Cambridge Growth Corridor, announced by the Chancellor of the Exchequer Rachel Reeves this morning.
Speaking in South Oxfordshire Ms Reeves said the move could lead to the area becoming “Europe’s Silicon Valley”, with a boost to the UK economy of up to £78 billion by 2035. Lord Patrick Vallance is to be appointed as Oxford-Cambridge Growth Corridor Champion.
Sean Woodcock, Banbury’s MP, felt the announcement was fantastic news for Banbury and North Oxfordshire. He said: “Lots of brilliant businesses have already moved to the area because of our proximity to the potential of the Oxford to Cambridge Arc. Confirmation that the Labour government is backing this area to deliver the growth that Britain needs is a huge boost to the opportunities for local people as well.”
Oxfordshire County Council welcomed the Chancellor’s acknowledgement that Oxfordshire is an economic and innovation powerhouse that makes a significant contribution to the national economy.
Councillor Liz Leffman, the leader of Oxfordshire County Council, said: “We particularly welcome the investment in East-West Rail, which is so important for connectivity across the Oxford to Cambridge corridor.
“As is well known our ambition at the county council is to see greater investment in our rail infrastructure locally and regionally to boost connectivity and productivity. But we also need urgent action to fix our crumbling water and sewage system, and improve the electricity grid, if the region is to flourish.
“We look forward to working with Lord Patrick Vallance in his new role, alongside our partners in Oxfordshire and neighbouring areas, to enable our county and the wider region to reach its full potential.”
Published: by Banbury FM Newsteam