Government announces plans to build Europe's new Silicon Valley - with Milton Keynes at the very heart of it

The city lies midway between Oxford and Cambridge, home to two of the best universities in the world and the subjects of years of discussion about creating a ‘growth corrider’ between them.

As far back as 2017, plans were created for the Oxford Cambridge Arc, a massive project to link the cities by developing an expresswaqy road, housing and science and technology businesses.

But the project was effectively scrapped by Boris Johnson’s government in 2021 when funding for the expressway component was cancelled.

However today the ambitious plan has been revived in the Chancellor’s major speech about UK growth.

Rachel Reeves vowed to “unleash the potential of the Oxford-Cambridge Growth Corridor with Milton Keynes at its centre. It will become such a famous hub for science and technology that it will add up to £78 billion to the UK economy, she said.

Ms Reeves added: “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.

“It has the potential to be Europe’s Silicon Valley. The home of British innovation.”

However, 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.

“There is no way to commute directly from places like Bedford and Milton Keynes to Cambridge by rail. And there is a lack of affordable housing across the region,” said Ms Reeves.

“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.”

She has vowed to work with local leaders to lift these constraints and develop the area to its potential.

One massive boon will be the new East-West Rail line, which will open this year to offer direct services between Oxford and Milton Keynes.

City Lib Dem councillor Sam Crooks was instrumental in the original Oxford Cambridge Arc proposals and he has welcome today’s news.

"I am personally delighted… This will really put Milton Keynes on the map,” he said.

Cllr Crooks is now calling for a ‘Metro Mayor’ to help govern the entire arc area and well as a world class university to be built in Milton Keynes itself.

Meanwhile, Science Minister Lord Patrick Vallance 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.

This government’s Plan for Change will see an end to that defeatism. 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.”

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