The Chancellor has set out plans for an "Oxford-Cambridge Growth Corridor".
The plans focus on unlocking new housing and laboratory developments in and around Cambridge, as well as improving transport links between Oxford and Cambridge.
In a speech on Wednesday 29 January 2025, Rachel Reeves said the region has the "potential to be Europe’s Silicon Valley" and add up to £78billion to the UK economy by 2035.
She highlighted that the Environment Agency has lifted its objection to plans for 4,500 new homes in Waterbeach after work to address water scarcity concerns.
The Chancellor also announced that the Environment Agency has lifted its objection to the Beehive Centre redevelopment in Cambridge, where Railpen has proposed to build more office and laboratory space.
Funding was also confirmed for East West Rail, the project to create a new rail link between Oxford and Cambridge.
Plans for upgrades to the A428 were announced to try and reduce journey times between Milton Keynes and Cambridge.
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