The ambition to show the Oxford–Cambridge hall into “Europe’s Silicon Valley” is in peril of stalling except the federal government accelerates supply of long-promised infrastructure, enterprise leaders have warned.
A coalition of main corporations, universities and buyers has written to Rachel Reeves urging sooner progress on transport and planning commitments for the so-called OxCam supercluster, amid rising concern that delays to the East West Rail venture are undermining investor confidence.
The warning is available in a report from the Oxford-Cambridge Supercluster, backed by 46 organisations together with AstraZeneca, GSK, Airbus and the Ellison Institute of Know-how Oxford, based by US tech billionaire Larry Ellison.
The hall has been championed by the chancellor as a cornerstone of Labour’s progress technique, with ministers promising to unlock a projected £78bn increase to the UK financial system by 2035 by means of science, expertise and life sciences growth.
Nonetheless, the report warns that uncertainty over infrastructure supply — notably the East West Rail (EWR) line — dangers blunting that potential.
The East West Rail scheme, designed to attach Oxford and Cambridge by way of Milton Keynes and Bedford, is extensively seen as essential to turning the area right into a single built-in labour and innovation market.
However issues are mounting that the venture is slipping delayed. Business leaders concern the required growth consent order is probably not submitted till 2027, that means ultimate approval might fall past the present parliament — placing the federal government’s 2035 operational goal in danger.
Andy Williams, chair of the Oxford-Cambridge Supercluster board and a former senior AstraZeneca government, stated the shortage of certainty was already harming confidence.
“With out readability and tempo, we danger killing investor confidence,” he stated, warning that trains could not run the total route by 2035 except motion is taken rapidly.
The hall has regained political momentum after being deprioritised underneath Boris Johnson’s authorities, when regional “levelling up” turned the main target. Enterprise leaders have welcomed Labour’s renewed consideration, however say ambition should now be matched by execution.
Whereas the federal government dedicated £2.5bn in June’s spending assessment to progress East West Rail, the report argues that funding alone shouldn’t be sufficient and not using a clear, region-wide supply plan.
The federal government has taken some steps, together with approving the reopening of the Cowley department line in Oxford and appointing Lord Vallance because the hall’s progress champion. Ministers have additionally promised a extra detailed plan this yr.
However the report requires stronger governance throughout your complete area, alongside an overarching spatial technique setting out the place housing, laboratories and business area might be prioritised — and the way supporting infrastructure might be delivered.
The report, produced with the Centre for Enterprise Analysis on the College of Cambridge, exhibits that financial progress is already spreading past Oxford and Cambridge into locations akin to Milton Keynes and Stevenage, residence to a serious GSK analysis website.
The hall now hosts round 3,000 knowledge-intensive corporations, using 152,000 folks and producing £45bn in annual revenues. Employment progress has outpaced the UK common over the previous decade.
Shaun Grady, chair of AstraZeneca UK, stated East West Rail was “very important infrastructure” wanted to attach campuses, labs and cities right into a single expertise market and guarantee scientific advances translate into financial progress extra rapidly.
Nick Pettit, senior companion at property adviser Bidwells, added that the rail hyperlink was the “lacking piece” and stated the federal government should present planning certainty and speed up supply of housing and workspace alongside the route.
A Division for Transport spokesperson stated East West Rail remained a “catalyst for progress”, including that officers had been analyzing how latest planning reforms might be used to ship advantages sooner.
If accomplished, the road is anticipated to chop journey occasions between Oxford and Cambridge from round three hours to only over 90 minutes — a change companies say is important if the UK is critical about constructing a globally aggressive innovation hall.
