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Government urged to make Oxford-Cambridge region the 'crown jewel' of European innovation
The Bridge of Sighs in St John's College, Cambridge, England. Licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.
Industry leaders and prominent companies are calling on the government to make the Oxford-Cambridge region the “crown jewel” of science and innovation in Europe.
This effort, spearheaded by the Oxford-Cambridge Supercluster Board, emphasises the economic potential of the region, which could contribute up to £50bn annually to the UK economy by 2030.
The Supercluster Board's report outlines several critical policy areas essential for this transformation. Key among these is the development of an East West Rail (EWR) link to connect Oxford and Cambridge, creating the necessary infrastructure to support a unified supercluster. This rail link is seen as crucial for achieving the critical mass required for the region to compete on a global scale.
The region is already notable for its high concentration of research, scientific talent, and global enterprises, contributing approximately seven per cent of the UK's GDP. However, the report highlights that the current scale of the cluster limits productivity gains. By addressing these constraints, the UK could cultivate advanced industry champions and take advantage of its scientific expertise on the world stage.
To unlock the region's full potential, the report proposes several measures, including the accelerated delivery of lab space through an 'innovation-use' class, improved R&D incentives, and permanent tax relief for new-to-market R&D. It also suggests working with universities to support spinouts and ensuring startups have access to necessary financing.
A letter to the Prime Minister, signed by industry leaders from companies such as AstraZeneca, Airbus, and Aveva, echoes these recommendations. It stresses the need for investment in transport links, financial incentives, and research space to capitalise on the region's strengths. The letter also underscores the importance of creating a supercluster to prevent innovative UK companies from relocating overseas due to a lack of infrastructure and development capital.
The appeal aligns with Labour's focus on promoting industries that drive economic growth, which is crucial for public spending plans. The proposed measures are intended to create extensive, direct, and spillover effects that would benefit the entire country, solidifying the Oxford-Cambridge region as a global science and technology supercluster.
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