The Transport Secretary has today (18/3) announced the cancellation of the expressway that would have linked Oxford, Milton Keynes, and Cambridge.
This £3.5bn project was planned to give drivers a fast route through the Oxford-Cambridge arc.
However, Grant Shapps has said that Government analysis confirmed the proposed project was not cost-effective meaning the "costs outweighed the benefits".
The Department for Transport will now investigate the need for more targeted road interventions in the area, recognising the vital role that transport investment has to support sustainable growth in the region.
This area, which Milton Keynes sits in the heart of, has been branded the UK's fastest-growing region.
It adds £110 billion to the economy every year.
Transport Secretary Grant Shapps said: "The Oxford-Cambridge Arc is home to cutting-edge research, globally renowned science and technology clusters and some of the most productive places in the country – we want to make sure it has transport fit for such an important region.
"Our analysis shows the expressway cannot deliver such links in a way that provides value for money for the taxpayer, so I have taken the decision to cancel the project. But we remain committed to boosting transport links in the area, helping us to create jobs and build back better from coronavirus (COVID-19).
"We will continue to work on more targeted, localised road improvements to boost transport in the region, alongside the transformational East West Rail, in which we have invested £760 million to deliver the next phase."
The development of the East West Rail scheme will continue.
Bletchley is at the centre of this railway that will provide the town with direct rail links to Oxford and Cambridge.
In January, the Government announced a £760 funding commitment to continue works on the rail, which will create 1,500 skilled jobs and reinstate direct rail services between Bicester and Bletchley for the first time since 1968.
Bletchley will also receive £23 million Government investment as part of the New Towns Deal.
The funding will see Bletchley have an improved railway station, with a new town centre-facing entrance being created to open up Queensway to new visitors and opportunities.
READ MORE: 'Bright future' for Bletchley as town receives £23m Government investment
