Swindon has joined five other members of the Fast Growth Cities (FGC) partnership in writing to Chancellor Rachel Reeves, urging renewed national investment and a meeting to discuss how the group can help deliver the UK’s economic growth mission.
The Fast Growth Cities group — comprising Swindon, Cambridge, Milton Keynes, Norwich, Oxford and Peterborough — says that without targeted government action on infrastructure, housing and utilities, the UK risks missing out on billions of pounds in economic gains over the next decade.
Despite accounting for just two per cent of the UK population, the six cities collectively contribute £34bn in global exports and attract around 10 per cent of all UK venture capital investment.
Billions in potential growth
Analysis by consultancy Public First suggests that if current productivity levels are maintained and pre-COVID employment growth returns, the Fast Growth Cities could add £21bn in real GVA by 2035, rising to £78bn by 2050.
The group argues that three major barriers must be addressed to unlock that potential:
-
Transport connectivity
-
Housing delivery pressures
-
Utility capacity constraints
The Public First report highlights Swindon’s high productivity, strong private-sector employment and relatively affordable housing as key strengths, placing it among the FGCs with significant potential to generate national economic gains.
Key Swindon priorities
The report outlines several projects where targeted government support could accelerate growth:
-
Early public investment to unlock town centre sites under the Heart of Swindon Vision regeneration programme
-
Capital funding for a proposed 1,200-seat (2,000-standing) entertainment venue to act as a regeneration anchor
-
Support for complex estate-based and social-housing regeneration schemes
-
Rail affordability improvements and delivery of committed and proposed enhancements, including Oxford to Bristol and Midlands Connect schemes, to unlock sites such as Knowledge Central
-
Timely upgrades to electricity grid capacity to prevent utilities becoming a barrier to growth
Ahead of the Spring Statement on 3 March, the letter urges the Chancellor to see investment in Fast Growth Cities as strategic national investment in high-performing areas, rather than redistribution.
Councillor Jim Robbins, Leader of Swindon Borough Council, said Swindon is “one of the fastest growing and most productive places in the country” with a strong private sector and proven investment track record.
He added that with government backing, Swindon and its Thames Valley partners could accelerate housing delivery, renew its industrial base in sectors such as advanced manufacturing and defence, and invest in the infrastructure needed to sustain long-term growth.
The Council hopes to secure a meeting with the Chancellor in the coming weeks to discuss how Swindon and its partner cities can support national economic ambitions.
