Swindon urges Chancellor to unlock growth potential as part of Fast Growth Cities partnership

The Fast Growth Cities group, which includes Swindon, Cambridge, Milton Keynes, Norwich, Oxford and Peterborough, has warned that without targeted government action on infrastructure, housing, and utilities, the UK risks missing out on billions in economic gains over the next decade.

In the letter, council leaders highlight the group’s significant collective contribution to the UK economy.

Despite representing just two per cent of the UK population, the six FGCs contribute £34bn in global exports and attract around 10 per cent of all UK venture capital investment.

Analysis by Public First shows that if current productivity levels are maintained and pre‑Covid employment growth returns, the FGCs could add £21bn in real GVA by 2035, rising to £78bn by 2050.

The Fast Cities group is calling on the Government to help it overcome three major barriers to unlock potential growth around transport connectivity, housing delivery pressures and utility constraints.

The Public First report, meanwhile, highlights Swindon’s combination of high productivity, strong private‑sector employment and more affordable housing, placing it among the Fast Growth Cities with the greatest potential to deliver significant national economic gains.

The report outlines how targeted government financial support will be crucial in unlocking key town centre regeneration projects.

These include:

• Supporting the Heart of Swindon Vision regeneration programme by providing early public investment to unlock key town centre sites and attract long‑term private‑sector funding for new homes and jobs.

• Providing capital funding for Swindon’s proposed 1,200‑seat (2,000‑standing) entertainment venue, which would act as a major anchor for regeneration, boost footfall, and strengthen investor confidence across the town centre.

• Back major estate‑based and complex social‑housing regeneration projects in key parts of Swindon.

• Improve rail affordability and deliver committed and proposed rail enhancements, including Oxford to Bristol and Midlands Connect schemes, to unlock growth sites like Knowledge Central and link Swindon into wider national economic corridors.

• Support timely upgrades to electricity grid capacity to ensure utilities do not become a barrier to regeneration or future employment growth.

Ahead of the Spring Statement on 3 March, the letter urges the Chancellor to view investment in Fast Growth Cities not as redistribution, but as strategic national investment into places with a proven record of generating high‑value economic returns.

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 a proven track record in attracting investment.

“But we know that with continued strong backing from government, we can maximise our potential even further, really deliver for UK PLC alongside our Thames Valley partners and get back to being the fastest growing town in Europe.

“We’re a leading pro-growth town and we’re ready to move quickly by accelerating housing delivery, renewing our industrial base in areas like advanced manufacturing and defence, and investing in the infrastructure that growth depends on.

“We’re also facilitating the investment of tens of millions of pounds in our town centre to improve Swindon for our residents, while driving regeneration and helping our creative, tech and business sectors to thrive.  We're determined to build a better Swindon and put the town back on the map.”

The Council hopes to secure a meeting with the Chancellor in the coming weeks to discuss how Swindon and its partner cities can work with the Government to support national growth ambitions.