Rachel Reeves will reveal plans tomorrow to create 'Europe's Silicon Valley' in the Oxford-Cambridge Gang.
The Chancellor is expected to announce a series of policy rules to grow the region that could add £ 78 billion to the British economy by 2035.
She will confirm the financing to an east-west rail connection between Oxford and Milton Keynes, and an upgrade to the road that connects the Buckinghamshire city with Cambridge.
Mrs. Reeves has been set to accelerate the development of a new main station in the east coast in Tempsford, Bedfordshire, and a support for the development of new cities along the Oxford-Cambridge corridor.
She will also announce that the environmental agency has lifted its objections against a new development around Cambridge with 4,500 new houses, as well as office and laboratory space in the center of Cambridge.
A new 'growing committee for Oxford' to assess how growth will be launched and Sir Patrick Vallance will be appointed as 'Oxford-Cambridge Growth Corridor Champion'.
The emphasis on the Oxford-Cambridge region marks a shift of the '' leveling 'agenda, in which resources were aimed at' Left Behind Places' in an attempt to pursue the levels of prosperity and opportunities in London and the South.
Instead, Mrs. Reeves will use a speech tomorrow to say that Oxford and Cambridge 'offer enormously economic potential for the growth views of our nation'.
Rachel Reeves will reveal plans to create 'Europe's Silicon Valley' in the Oxford-Cambridge Gang. The Chancellor is expected to announce a series of policy rules to grow the region that could add £ 78 billion to the British economy by 2035
The Chancellor is expected to confirm the financing to an East-West Rail connection between Oxford and Milton Keynes, and an upgrade to the road that connects the Buckinghamshire City with Cambridge (stock image)
A house in Tempsford. Mrs. Reeves is set to accelerate the development of a new East Coast Hoofd line in Tempsford, Bedfordshire (Stock Image)
He is expected to say: 'Only 66 miles apart these cities are the home of two of the best universities in the world, two of the most intensive innovative lovers in the world and the area is a hub for globally renowned science and technology companies in Life Sciences, Production and AI.
“It has the potential to be the European Silicon Valley. The house of British innovation.
'To grow, these companies of world -class Talent of World Class need that have to work quickly and live somewhere in the area. But to come to Cambridge by train from Oxford, takes two and a half hours.
'There is no way to commute directly from cities such as Bedford and Milton Keynes to Cambridge by rail. And there is a lack of affordable homes in the region.
'Oxford and Cambridge are two of the least affordable cities in the UK. In other words, the demand is, but there are far too many limitations of the supply in economic growth in the region. '
Silicon Valley is a region in North California, which is home to many of the world's largest technology companies.
She will add: 'Together, these announcements show that a government offers real leadership for the first time to deliver this project a clear strategy for the entire region that is supported by financing for housing and infrastructure that we need so badly. '
The treasury said that the announcements were designed to create the right conditions to increase the investments in growth rectors, including life sciences, artificial intelligence and advanced production.
