The Cambridge-Milton Keynes-Oxford Arc contains some of our most productive and innovative places, delivering growth and prosperity for the whole country.
Without urgent action, a chronic under-supply of homes could jeopardise growth, limit access to labour and put prosperity at risk.
The National Infrastructure Commission announced a new report [read here] on 17 November 2017 which makes recommendations [read them here] for securing the Arc’s long-term economic success, delivering improved infrastructure and new homes to create places where people will want to live and work.
The chairman of the National Infrastructure Commission urged Ministers, and council leaders across the arc covering Oxford, Milton Keynes, Bedford, Northampton and Cambridge, to “seize the opportunity” and harness the area’s economic potential.
To do this, he encouraged them to work together to deliver new and improved infrastructure, helping to unlock opportunities to deliver one million new homes and jobs by 2050, including the country’s first new towns in 50 years – tackling the area’s housing shortage, improving local transport connections and creating new jobs.
Chairman of the National Infrastructure Commission, Lord Adonis, said:
“The arc spanning Cambridge, Milton Keynes and Oxford attracts the brightest and best from some of the most cutting edge industries. But the area also suffers from a lack of available homes and an infrastructure network that is feeling the strain – pricing local people out of the market, making it difficult for businesses to recruit staff, and threatening the future competitiveness of one of the most successful parts of the country.
“A ground-breaking deal between ministers and local leaders could transform the area, helping to double the rate of housebuilding and deliver the first new towns this country has seen for half a century. With this one of the most economically important parts of the UK, it could add billions of pounds a year to the national economy.
“I urge local leaders to seize this opportunity and work together with Government, both for the benefit of their residents and of the country as a whole – all by delivering a million new homes and jobs by 2050, investing in improved road and rail links and protecting the area’s natural environment.”
Currently the area generates £90billion per year towards the national economy, but by taking these steps this could increase to over £250billion a year – an increase of over £160billion a year.