Iain Stewart
Main Page: Iain Stewart (Conservative - Milton Keynes South)Department Debates - View all Iain Stewart's debates with the HM Treasury
(1 year, 9 months ago)
Commons ChamberOxford, Cambridge and, of course, Milton Keynes are part of a globally significant area with world-leading technology, life sciences and space sectors. However, their growth potential is constrained by poor connectivity, a lack of lab space and high housing costs. The Government are committed to working with local authorities and other stakeholders to unlock growth. The first section of East West Rail is in construction and will bring benefits to my hon. Friend’s constituency in 2025.
I congratulate my hon. Friend on his appointment. A few weeks ago, the hon. Member for Cambridge (Daniel Zeichner) and I hosted an event for the East West main line partnership to launch its report, “Building Better Connections”, which sets out the wider economic benefits of the arc as a whole and the rail line in particular. I urge my hon. Friend to read that report and assure me that any investment decisions will be based on the wider economic benefit, not just on a narrow cost-benefit analysis.
I am grateful to my hon. Friend for his fine words and welcome. We will consider that report with interest, and I was glad to hear about the event that he hosted with the hon. Member for Cambridge (Daniel Zeichner). I pay tribute to my hon. Friend as a long-standing champion not just of the East West Rail connection, but of the wider growth opportunity that links in with that. This is such an important area not only for international competitiveness, but for the UK economy. As he knows, the first section of East West Rail is already in construction and we will set out the next steps on the later stages shortly. I reassure him that we recognise the significant economic growth that the project could unlock by increasing connectivity and supporting the region’s high productivity sectors.