Latest Budget News from OxLEP

Whilst we digest the budget and what is to be set in place for businesses we thought it would be useful to share the OXLEP response. Here https://www.oxfordshirelep.com/news/article/budget-2020-response-nigel-tipple-chief-executive

LEP-specific announcements:

The gov.uk website states….

‘To ensure that all businesses have access to high quality support and advice in their region, the government will invest £10 million to increase Growth Hub capacity and provide a high-quality, core business advice and guidance offer across all 38 Growth Hubs’

Further general announcements of note:

Two bits of Oxfordshire-specific news:

Harwell Campus:

‘The Budget allocates £180 million capital funding for a new, state-of-the-art Collections, Research and Digitisation Centre for the Natural History Museum at Harwell Science, Technology and Innovation Campus in Oxfordshire. This new facility will be a world-leading centre for natural sciences research and international collaboration and will preserve this unique research collection for future generations.’

The Arc:

‘The Budget announces plans to develop, with local partners, a long-term Spatial Framework to support strategic planning in the OxCam Arc. This will support the area’s future economic success and the delivery of the new homes required by this growth up to 2050 and beyond. The government is also going to examine and develop the case for up to four new Development Corporations in the OxCam Arc at Bedford, St Neots/Sandy, Cambourne and Cambridge, which includes plans to explore the case for a New Town at Cambridge, to accelerate new housing and infrastructure development.’

An executive summary can be found here:

https://www.gov.uk/government/publications/budget-2020-documents/budget-2020

Graham
Author: Graham