Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment with Cabinet colleagues of the value for money of public spending on the Oxford-Cambridge Arc.

The Government recognises the significant economic potential of the Oxford to Cambridge region, but also that it is constrained by poor connectivity, limited laboratory space, and high housing costs. The Spring Budget set out the Government’s commitment to East West Rail, which will unlock locally-led growth. In line with the usual process, East West Rail Company will produce an Outline Business Case ahead of an application for planning consent and the Treasury will assess the value for money of the scheme at this point.