The Chancellor of the Exchequer Philip Hammond has confirmed the Government’s support for a new rail line and superhighway linking Milton Keynes to Oxford and Cambridge.
The Chancellor confirmed the funding needed will be made available to finish East-West Rail and build the superhighway. As a result the corridor will see a bold one million new homes being built by 2050.
Last week the National Infrastructure Committee (NIC) said development of the corridor would achieve an economic boost up to £160m a year. That is more jobs, higher wages and better opportunities.
The Chancellor also said the Government would establish New Town Development Corporations to deliver five new garden towns which are expected to be placed in the corridor.
Milton Keynes North MP Mark Lancaster TD MP said:
This is very good news and gives us the opportunity to achieve the true potential for the Oxford-MK-Cambridge arch. With planned growth across the region and better connectivity there is no doubt we could be the new Silicon Valley. I am pleased the Government has accepted the NIC report and I look forward to working with local leaders going forward.