Cambridge Network's CEO says the Autumn Statement tops a good week for business in the region

Yesterday's Autumn Statement from the Chancellor brought good news for business in the region. The Chancellor was clear that we can only spend more as a country if we earn more by trading. His investment seems to be targeting areas of the economy that can be world-class and Cambridge business is a highlight for future UK productivity.

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Both rail and road would help link housing locations to the jobs growth that we continue to see in the region...

The Chancellor confirmed that the LEPs in the East of England will be given £151M as a Growth Deal, with the allocation to the Greater Cambridge Greater Peterborough LEP to be confirmed in the near future.

On Tuesday Cambridgeshire and Peterborough partners agreed a Devolution deal which will bring additional powers and funding to the region. More affordable housing is a priority, and a more joined up approach for transport across the wider region. The LEP has been awarded funding to allow more flexibility to develop plans for investment in infrastructure, skills and business support projects, and also to promote the region to the outside world by carrying out an assessment to show the world-class nature of business here.

The Chancellor announced £100M to accelerate construction of the East-West Rail line.  An additional £27M has been committed to assess an Oxford-Cambridge roadway.

Claire Ruskin, CEO of Cambridge Network comments “Both rail and road would help link housing locations to the jobs growth that we continue to see in the region.  In addition they will join us more efficiently with Milton Keynes, Oxford and the north to make sure that the UK is as productive as it can possibly be, which means we can continue to be attractive as a trading partner with the rest of the world.  The Chancellor’s approach seems sensible in investing where we can make most difference to the UK’s future.”  



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