Today’s Budget recognises the national and international significance of Cambridgeshire and Peterborough. Alongside our regional partners, I have long advocated for investment in our innovation economy to drive the renewal the country needs.
This Budget sets a clear intent to unlock growth in our region – critical to sustaining economic success and delivering good jobs and greater prosperity for all our communities.
This is backed by the Chancellor’s £10 million commitment in developing an ambitious plan for the housing, transport, water, and other infrastructure Cambridge needs to realise its full potential.
This, alongside the reaffirmed Government commitment to working with regional Mayors, gives us a strong foundation to work with the Cambridge Growth Company leading the plan, as well as local partners, on a better future for all.
The announcement also sits alongside our ongoing work on our Local Growth Plan to unlock new infrastructure, jobs and investment throughout Cambridgeshire and Peterborough.
I’m also pleased to see East West Rail included, which will improve connections along the innovation corridor to Oxford, supporting investment and opportunity in our region. I will be studying the details behind today’s announcement to fully understand the future phases of development.
The Budget makes clear key industrial sectors, like life sciences, will not thrive unless we invest in their foundations – our infrastructure.
Government has once again made it clear our economy plays an important role in the national Industrial Strategy, with an ambition to cement Cambridge’s status as a renowned centre of innovation and excellence.
So today’s support for unlocking vital infrastructure and advancing projects like East West Rail gives welcome backing for our communities as well as our businesses, including in life sciences.
Overall, the Budget represents a significant step forward in providing economic certainty to the UK and outlining a long-term vision for the country’s prosperity and growth.
This is a Budget looking to the future, showing that, where there is a strong case for funding, Government is ready to listen. That should give us confidence in securing key investments in infrastructure across our area for years to come.”
