The new corridor is expected to tighten connections between the two university cities
The Prime Minister has described the Oxford-Cambridge corridor as “really important”, saying there will be many “spin offs” from it. In October, the Government announced it would earmark up to £400 million for the Oxford to Cambridge corridor.
The plans would connect the two university cities, improving transport links, boosting businesses, and helping housing numbers, according to the Government. During a visit to Welland Academy in Peterborough on Monday (November 24), Prime Minister Keir Starmer told CambridgeshireLive that the corridor was “really important” and there would be a lot of “spin offs” from it.
He said: “Once you start to grow the local economy, that then builds up other businesses, small businesses in particular, because they are feeder businesses into some of the ones that are being targeted under the corridor itself.”
The PM said the corridor will have a “snowball effect”. He added: “Once you start down this road, there’s more and more wealth being created.
“That will then be put back into the local economy and bring even more chances. So I think it will make a big difference over a much broader part of the economy – more than people will think.”
The PM added that the corridor will see more houses, transport links, and opportunities for local businesses. He said: “Many local businesses will have the opportunity that might not otherwise have been there.”
The corridor is estimated to boost the UK economy up to £78 billion in the next decade, according to Chancellor Rachel Reeves. The investment, including building East West Rail, will connect Oxford, Cambridge, Milton Keynes, and Oxford.
It has been dubbed as “Europe’s answer to Silicon Valley”, as stated by the Chancellor. As part of the plans, the Government is reopening the Cowley Branch railway, which closed 60 years ago.
