Latest news with #BostonCluster
Yahoo
29-01-2025
- Business
- Yahoo
What do government plans mean for Cambridge?
The chancellor has unveiled plans to deliver the Oxford-Cambridge Growth Corridor, claiming it will boost the UK economy by up to £78bn. Rachel Reeves said the area has "the potential to be Europe's Silicon Valley", but a lack of affordable housing, no direct train service between the university cities and a lack of water supply in one of the driest regions in the country had held this back. "To grow, these world-class companies need world-class talent who should be able to get to work quickly and find somewhere to live in the local area," she said. So, what has been confirmed for the Cambridge area? The Environment Agency has lifted its objections to developments around Cambridge, delivering 4,500 homes, plus associated facilities such as schools, as well as office and laboratory space in the city centre at the Beehive Centre The government will let water companies unlock £7.9bn in investment to build new reservoirs, including a new Fens Reservoir to serve Cambridge Funding has been confirmed for transport projects, including the East West Rail, and an upgrade on the A428 between Milton Keynes and Cambridge The new Cambridge Cancer Research Hospital will be prioritised Support has been confirmed for a new East Coast Mainline station at Tempsford, Bedfordshire The government has backed the University of Cambridge's plans to build a large scale innovation hub in the city centre Ms Reeves said: "Oxford and Cambridge offer huge economic potential for our nation's growth prospects. "Just 66 miles apart, these cities are home to two of the best universities in the world, two of the most intensive innovation clusters in the world and the area is a hub for globally renowned science and technology firms in life sciences, manufacturing, and AI. "To grow, these world-class companies need world-class talent who should be able to get to work quickly and find somewhere to live in the local area. But to get from Oxford to Cambridge by train takes two and a half hours. "Oxford and Cambridge are two of the least affordable cities in the UK. In other words, the demand is there but there are far too many supply side constraints on economic growth in the region." To help meet the government's aims, Science Minister Lord Patrick Vallance has been appointed as the Oxford-Cambridge Growth Corridor Champion. He said: "The UK has all the ingredients to replicate the success of Silicon Valley or the Boston Cluster, but for too long has been constrained by short termism and a lack of direction. "I look forward to working with local leaders to fulfil the Oxford-Cambridge corridor's potential by building on its existing strengths in academia, life sciences, semiconductors, AI and green technology amongst others." The government keeps saying its main mission is to grow the economy. Now the chancellor has made it very clear that she wants this region to be at the forefront of that mission. Never before have there been so many local announcements in one speech: airport expansion, road improvements, new homes, a station even a reservoir. For years the business community has been telling governments the region has significant potential, if only it was given the support that it needed to grow. Rachel Reeves has listened and now expects the region to deliver. A lot of these ideas are not new. Public opposition and a lack of confidence by investors meant they have not became reality. The chancellor wants it to be different this time by driving the changes through the planning system with limited time for consultation. There will be opposition to some of this, there will be legal battles - it may not all succeed and it will certainly take time. But if it does happen, the look of this region and the way people view this region will change considerably. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X. Council opposes six track plan for East West Rail Oxford-Cambridge region should be science 'jewel' 'Most don't know what the Oxford-Cambridge arc is'
BBC News
29-01-2025
- Business
- BBC News
What do government 'Silicon Fens' plans mean for Cambridge?
The chancellor has unveiled plans to deliver the Oxford-Cambridge Growth Corridor, claiming it will boost the UK economy by up to £ Reeves said the area has "the potential to be Europe's Silicon Valley", but a lack of affordable housing, no direct train service between the university cities and a lack of water supply in one of the driest regions in the country had held this back."To grow, these world-class companies need world-class talent who should be able to get to work quickly and find somewhere to live in the local area," she what has been confirmed for the Cambridge area? The Environment Agency has lifted its objections to developments around Cambridge, delivering 4,500 homes, plus associated facilities such as schools, as well as office and laboratory space in the city centre at the Beehive CentreThe government will let water companies unlock £7.9bn in investment to build new reservoirs, including a new Fens Reservoir to serve CambridgeFunding has been confirmed for transport projects, including the East West Rail, and an upgrade on the A428 between Milton Keynes and CambridgeThe new Cambridge Cancer Research Hospital will be prioritisedSupport has been confirmed for a new East Coast Mainline station at Tempsford, BedfordshireThe government has backed the University of Cambridge's plans to build a large scale innovation hub in the city centre Economic potential Ms Reeves said: "Oxford and Cambridge offer huge economic potential for our nation's growth prospects."Just 66 miles apart, these cities are home to two of the best universities in the world, two of the most intensive innovation clusters in the world and the area is a hub for globally renowned science and technology firms in life sciences, manufacturing, and AI."To grow, these world-class companies need world-class talent who should be able to get to work quickly and find somewhere to live in the local area. But to get from Oxford to Cambridge by train takes two and a half hours."Oxford and Cambridge are two of the least affordable cities in the UK. In other words, the demand is there but there are far too many supply side constraints on economic growth in the region." To help meet the government's aims, Science Minister Lord Patrick Vallance has been appointed as the Oxford-Cambridge Growth Corridor said: "The UK has all the ingredients to replicate the success of Silicon Valley or the Boston Cluster, but for too long has been constrained by short termism and a lack of direction."I look forward to working with local leaders to fulfil the Oxford-Cambridge corridor's potential by building on its existing strengths in academia, life sciences, semiconductors, AI and green technology amongst others." Political analysis The government keeps saying its main mission is to grow the economy. Now the chancellor has made it very clear that she wants this region to be at the forefront of that before have there been so many local announcements in one speech: airport expansion, road improvements, new homes, a station even a reservoir. For years the business community has been telling governments the region has significant potential, if only it was given the support that it needed to grow. Rachel Reeves has listened and now expects the region to deliver.A lot of these ideas are not new. Public opposition and a lack of confidence by investors meant they have not became reality. The chancellor wants it to be different this time by driving the changes through the planning system with limited time for will be opposition to some of this, there will be legal battles - it may not all succeed and it will certainly take time. But if it does happen, the look of this region and the way people view this region will change considerably. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X.
Yahoo
29-01-2025
- Business
- Yahoo
What do government plans mean for Cambridge?
The chancellor has unveiled plans to deliver the Oxford-Cambridge Growth Corridor, claiming it will boost the UK economy by up to £78bn. Rachel Reeves said the area has "the potential to be Europe's Silicon Valley", but a lack of affordable housing, no direct train service between the university cities and a lack of water supply in one of the driest regions in the country had held this back. "To grow, these world-class companies need world-class talent who should be able to get to work quickly and find somewhere to live in the local area," she said. So, what has been confirmed for the Cambridge area? The Environment Agency has lifted its objections to developments around Cambridge, delivering 4,500 homes, plus associated facilities such as schools, as well as office and laboratory space in the city centre at the Beehive Centre The government will let water companies unlock £7.9bn in investment to build new reservoirs, including a new Fens Reservoir to serve Cambridge Funding has been confirmed for transport projects, including the East West Rail, and an upgrade on the A428 between Milton Keynes and Cambridge The new Cambridge Cancer Research Hospital will be prioritised Support has been confirmed for a new East Coast Mainline station at Tempsford, Bedfordshire The government has backed the University of Cambridge's plans to build a large scale innovation hub in the city centre Ms Reeves said: "Oxford and Cambridge offer huge economic potential for our nation's growth prospects. "Just 66 miles apart, these cities are home to two of the best universities in the world, two of the most intensive innovation clusters in the world and the area is a hub for globally renowned science and technology firms in life sciences, manufacturing, and AI. "To grow, these world-class companies need world-class talent who should be able to get to work quickly and find somewhere to live in the local area. But to get from Oxford to Cambridge by train takes two and a half hours. "Oxford and Cambridge are two of the least affordable cities in the UK. In other words, the demand is there but there are far too many supply side constraints on economic growth in the region." To help meet the government's aims, Science Minister Lord Patrick Vallance has been appointed as the Oxford-Cambridge Growth Corridor Champion. He said: "The UK has all the ingredients to replicate the success of Silicon Valley or the Boston Cluster, but for too long has been constrained by short termism and a lack of direction. "I look forward to working with local leaders to fulfil the Oxford-Cambridge corridor's potential by building on its existing strengths in academia, life sciences, semiconductors, AI and green technology amongst others." The government keeps saying its main mission is to grow the economy. Now the chancellor has made it very clear that she wants this region to be at the forefront of that mission. Never before have there been so many local announcements in one speech: airport expansion, road improvements, new homes, a station even a reservoir. For years the business community has been telling governments the region has significant potential, if only it was given the support that it needed to grow. Rachel Reeves has listened and now expects the region to deliver. A lot of these ideas are not new. Public opposition and a lack of confidence by investors meant they have not became reality. The chancellor wants it to be different this time by driving the changes through the planning system with limited time for consultation. There will be opposition to some of this, there will be legal battles - it may not all succeed and it will certainly take time. But if it does happen, the look of this region and the way people view this region will change considerably. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X. Council opposes six track plan for East West Rail Oxford-Cambridge region should be science 'jewel' 'Most don't know what the Oxford-Cambridge arc is'
The Guardian
28-01-2025
- Business
- The Guardian
Reeves plans to create ‘Silicon Valley' between Oxford and Cambridge
Rachel Reeves is unveiling plans to create 'Europe's Silicon Valley' between Oxford and Cambridge as she stakes the government's success on kickstarting economic growth and putting more pounds in people's pockets. The chancellor will announce a blueprint to improve infrastructure across the region that will add up to £78bn to the UK economy within a decade, according to industry experts, and put it at the forefront of science and technological advances. In a major speech to business leaders, she is also expected to confirm plans to expand Heathrow airport, overhaul planning rules and fast-track building projects, but has prompted fears that carbon targets and nature protections are under threat. Reeves has struck a more optimistic tone in recent weeks, after being criticised for undermining confidence following Labour's election victory last July, by highlighting the Tories' disastrous economic legacy. Her speech is viewed inside government as an opportunity to pivot away from the economic 'doom and gloom' that characterised Labour's early months and start to focus on delivering real change. However, the latest official data suggests the economy may have flatlined in the second half of 2024, intensifying the pressure on the government to show it can boost growth and improve living standards. Reeves is expected to say the government will go 'further and faster' to boost growth, 'ending the era of low expectations' and 'putting Britain on a different path' with its plans. However, she has spooked some Labour MPs and environmental campaigners with her relentless pursuit of growth. 'Britain is a country of huge potential … We are the forefront of some of the most exciting developments in the world like artificial intelligence and life sciences. We have great companies based here delivering jobs and investment in Britain,' she will say. 'But for too long, that potential has been held back. For too long, we have accepted low expectations, accepted stagnation and accepted the risk of decline. We can do so much better. 'Low growth is not our destiny. But growth will not come without a fight. Without a government that is on the side of working people, willing to take the right decisions now to change our country's course for the better.' Economists have suggested that two of the most immediate ways to boost growth would be higher migration and a better trading relationship with the European Union, neither of which Reeves is expected to address in her speech. Reeves' decision to revive the Oxford-Cambridge corridor marks a return to political favour for a scheme shelved three years ago by Boris Johnson in order to prioritise levelling up spending in the north of England. Sir Patrick Vallance, the science minister, will oversee the plan. He said: 'The UK has all the ingredients to replicate the success of Silicon Valley or the Boston Cluster but for too long has been constrained by short-termism and a lack of direction.' Reeves will announce that the Environment Agency has lifted its objections to building 4,500 homes around Cambridge and that water companies will invest £7.9bn over five years on water infrastructure including reservoirs in the Fens and Oxfordshire. There will also be investment in transport links between the two cities, including a new east coast mainline station in Tempsford, road upgrades and new east-west rail services, with the journey by train currently taking two and a half hours. However, the chancellor's growth strategy has underlined concerns the government is placing too much emphasis on the south of England as it seeks to kickstart the flagging economy. All of the airports earmarked for expansion – Heathrow, Gatwick and Luton – are in the south. The Treasury pointed to recent announcements about projects backed by Labour's national wealth fund, which ministers say has a mandate to create jobs across the UK. But regional mayors are demanding more powers – including over tax and spend – in order to play their part in boosting growth. The chair of the UK Mayors group, Tracy Brabin, who represents West Yorkshire, said: 'We know that you can't get economic growth nationally without doing it in the regions. Mayors stand ready to deliver on the growth mission but we need the right powers and financial freedoms to do that.' There are also concerns over the environmental impact of Reeves' plans, in particular airport expansion. An analysis by the Green Alliance shows it would put the government on 'collision course' with its own climate targets. They argued that the government's strategy for cleaner flying relies heavily on technologies that are unproven, such as zero-emission flights powered by electricity or hydrogen, and sustainable aviation fuels. Other green groups questioned the economic benefits of airport expansion. Greenpeace UK's chief scientist, Dr Doug Parr, said: 'Chasing growth for growth's sake is not an economic strategy. 'Instead of picking up any old polluting project from the discard pile, the chancellor should focus on green industries that can attract investment and bring economic and social benefits for years to come, like secure jobs, affordable energy bills and cheaper, better transport.' Friends of the Earth's Rosie Downes added: 'Rachel Reeves's assertion that growth trumps other concerns, and her reported support for aviation expansion, has set alarm bells ringing that our environment is under significant threat. 'A strong economy is vital, but this can be achieved without undermining crucial climate targets and nature protections. The green economy is growing fast, and with greater government support it could expand even quicker. It needn't be a question of growth or the environment when we can have both.'
