What will Brexit mean for the economic growth strategy in Oxfordshire?

generic-news-2Need not Greed Oxfordshire has written an open letter to all District Council Leaders to ask what plans are in place to reconsider the OxLEP SEP growth targets for the county in the light of Brexit and what implications these are expected to have for housing numbers.

In the light of Brexit, the Government’s recent downgrading of economic forecasts and the drop in share price of the major housebuilders, NNGO believes this is the right time for a review of the Oxfordshire Strategic Housing Market Assessment (SHMA), and the Strategic Economic Plan (SEP) that underlies it.

In our open letter to District Council Leaders, copied to all MPs and Nigel Tipple, the Chief Executive of OxLEP, we ask our Leaders whether they are prepared to take this next logical step. (See our letter below)

Much of Oxfordshire’s high-tech and research based economy, on which the growth strategy is predicated, relies on EU funding and investment.  OxLEP itself is managing at least £16.3m of EU funds for the period 2014-2020.

We want to know how Brexit may affect funding for the necessary infrastructure to support the growth proposed is also critical.

Need Not Greed Oxfordshire’s concern with unrealistic housing targets has always been the danger of sacrificing valuable land (Green Belt and greenfield) now for speculative jobs which may or may not come about in the future.

We believe now is the time to take stock and to re-think before the damage becomes irreparable.

Need Not Greed Oxfordshire is calling for prompt action to review the SEP and the Oxfordshire SHMA and to introduce more realistic growth targets for the county.

We are encouraging all our coalition members and supporters to write similar letters to their local District Councillors.

We will share any responses that we receive.

See: NNGO Open Letter to District Council Leaders – 7 July 2016