A recent report in the Financial Times claims that only a small number of “investment zones” around UK universities will get approval in next week’s Budget than that promised by Liz Truss last year.

The former PM originally wanted approximately 200 of the low-tax, low regulation sites as part of the “levelling-up agenda” designed to even out regional bias.

The FT says that chancellor Jeremy Hunt, will reduce the plans sharply and will instead encourage ‘growth clusters around research bases such as universities’.

There could be only 10 investment zones to get tax breaks.

Last year the chancellor told MPs that the government would be changing its “approach to investment zones”, which would “now focus on leveraging our strengths by being centred on universities in left behind areas”. 

The FT quotes a ‘government figure’ says the Treasury are more keen on projects like the Oxford-Cambridge arc’.

This story comes an opportune time, as the Built Environment Networking ‘The Future of the Oxford to Cambridge Region Conference’ returns in 2023 to encourage the Billions of pounds in potential investment  that has been earmarked for the area.

The news also comes soon after the launch of the Oxford to Cambridge Pan-Regional Partnership, which is tasked with turning this potential into reality.

The region already accounts for 7% of England’s economic output and this could grow to £235bn by 2030 with the right support. It is home to the UK’s greatest concentration of Life Sciences and Technology businesses, as well as growing industrial property and renewable energy sectors. Regardless of the region’s name there is a huge need for high quality and affordable housing, continued strengthening of transport infrastructure and major investment development to provide space for its many world class businesses, universities and enterprises to grow.

This annual event brings together brings together key stakeholders: universities, local authorities, investors, developers, science & technology powerhouses and major employers to present details of upcoming projects and discus how the wider built environment can support.