Refocus of Funding Zones ‘excellent news’ for Oxfordshire, says planner

The chancellor of the exchequer’s announcement that Funding Zones funding could be redirected in direction of “knowledge-intensive progress clusters” is nice information for Oxfordshire, in keeping with planning and growth professional Carter Jonas.

Whereas Jeremy Hunt’s Autumn Assertion announcement has been criticised by many – together with native councils that had filed expressions of curiosity within the programme below the levelling up technique – the refocus will profit the Oxfordshire science cluster, in keeping with Head of Planning & Improvement for the south and south west Steven Sensecall.

“The Authorities is aspiring to refocus the Funding Zones programme and to make use of this initiative to “catalyse a restricted variety of the best potential knowledge-intensive progress clusters,” famous Steven.

“Regardless of what it describes as ‘a time of serious problem for the UK and international economic system,’ the Authorities is intending to extend spending in R&D by a 3rd.

“This modification in route on Funding Zones and enhance in spending on R&D bodes nicely for Oxfordshire, which has been described because the UK’s ‘Innovation Engine’.

“Harwell Campus, ARC Oxford, and Culham Science Centre are cornerstones of the Oxfordshire science cluster, are bringing ahead globally important science & know-how associated growth.”

The primary clusters are set to be introduced ‘within the coming months’.

Funding zones – geared toward attractive companies with tax cuts and relaxed planning guidelines – have been launched by Jeremy Hunt’s predecessor Kwasi Kwarteng in his ill-fated mini-budget just below two months in the past.