Business leaders bemoan slow progress on ‘Europe’s Silicon Valley’

Britain’s ambition to turn the Oxford–Cambridge corridor into a globally competitive technology and life sciences hub is facing renewed scrutiny as business leaders warn that delays to infrastructure risk undermining investor confidence, even as ministers restate their commitment to accelerated delivery. The government has positioned the so-called OxCam growth corridor as a central plank of its economic strategy, with Chancellor Rachel Reeves describing it as having the potential to become (inevitably) Europe’s Silicon Valley. The plan centres on better connecting Oxford and Cambridge, stimulating housing delivery and encouraging high-value research, technology and manufacturing to scale across the region.

However, a new report from the Oxford–Cambridge Supercluster Board, backed by 46 organisations including AstraZeneca (pictured), GSK, Airbus and the Ellison Institute of Technology Oxford, urges the government to move faster on infrastructure commitments, particularly the East West Rail scheme. The group warns that uncertainty over delivery timelines risks deterring long-term investment.

East West Rail is intended to restore a direct rail connection between Oxford and Cambridge via Milton Keynes and Bedford, reducing journey times to around one hour and 35 minutes. While £2.5 billion was allocated to the project in the June spending review, there are concerns that the required development consent order may not be submitted until 2027, potentially delaying full completion beyond the current parliamentary term.

Andy Williams, chair of the Supercluster board, said the lack of clarity could mean trains do not run the full route by 2035, the government’s stated target, with implications for business confidence and workforce mobility across the corridor.

The report, produced with the Centre for Business Research at the University of Cambridge, highlights the scale of existing activity in the region. It identifies around 3,000 knowledge-intensive firms employing more than 150,000 people and generating £45 billion in annual revenue, with employment growth outpacing the national average over the past decade. Growth is also spreading beyond Oxford and Cambridge to towns such as Milton Keynes and Stevenage.

Ministers say they are committed to accelerating delivery where possible. Transport minister Simon Lightwood has told Parliament that options are being reviewed to bring forward benefits on parts of the route, with a more detailed plan expected later this year. Lord Vallance, the science minister, has been appointed as the government’s Oxford–Cambridge corridor champion.

Alongside rail, wider challenges remain, including housing supply, water infrastructure and regional planning. Business groups are calling for a single governance structure and an overarching spatial strategy to coordinate decisions on homes, laboratories, workplaces and supporting infrastructure as growth pressures intensify across one of the UK’s most economically productive regions.