The government investment will help deliver thousands of new homes in the Oxford-Cambridge Growth Corridor – otherwise hailed as ‘Europe’s Silicon Valley’.
As a result of the funding announcement, up to 10,000 homes will be constructed and the Cowley rail line in Oxford, which has been closed for more than 60 years, will be reopened. What’s more, two new stations – at Cowley and Littlemore – will be created to help residents travel between Oxford, Milton Keynes, Bedford and Cambridge, better.
It has been revealed that the new train line will be delivered under the East West Rail scheme.
Commenting on the news, Chancellor Rachel Reeves said the investment marks a decisive break from ‘years of underinvestment’ in one of the UK’s most dynamic innovation regions.
‘Oxford and Cambridge are home to two of the best universities in the world and some of the most intensive innovation clusters anywhere,’ Reeves said. ‘Yet they still lack the public transport, affordable housing and infrastructure they need. That changes under this government.’
Reeves added that the Cowley line reopening formed part of a wider strategy to attract £10bn in private investment, unlock affordable housing and ‘build an economy that works for working people’.
Against this backdrop, further investment is expected to support the electric vehicle charging network and boost domestic supply chains for materials used in solar panels, wind turbines and EV batteries.
‘The potential here is huge,’ Reeves continued. ‘Only 66 miles apart, Oxford and Cambridge are global centres of science and innovation, yet it still takes two and a half hours to travel between them by train. This is about fixing that — and finally realising the promise of this region.’
Photo by Ben Seymour via UnSplash
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