• Swindon & Wiltshire Economy
• Thursday July 2 2026

Business West presses case for Thames Valley devolution

Business West has pressed the case for Thames Valley devolution after  Oxfordshire County Council pulled the plug on a deal that that would have brought billions of pounds of investment to the Thames Valley.

Councils from Swindon to Reading had been working collaboratively on a proposal for a Strategic Authority, linking together councils across the Thames Valley region, for over 18 months.

The creation of a Foundation Strategic Authority would be the first step towards creating a directly elected Mayor of the Thames Valley, with similar powers and funding as the Mayors of London, Greater Manchester and the West Midlands.

This would have boosted a Thames Valley regional economy that is already worth £97 billion – behind only London and Greater Manchester for regional value across the UK.

But, at a meeting on June 17, intended to finalise the joint submission, the leader of Oxfordshire County Council vetoed the proposal.

Now Business West, which has been supporting Swindon Borough Council in the bid, has stepped in, with senior policy specialist Huw James addressing Oxfordshire County Council’s Full Council meeting on June 30.

“Swindon is an essential part of the Thames Valley’s functional economic area,” said Huw.

“The region is supported by strong existing road and rail connectivity resulting in deep commuter flows across the region that support thousands of people travelling to work in both directions.

“Oxford and Swindon’s economies share interconnected and interdependent supply chains and labour markets that support the regions’ most innovative and productive employers like BMW, Thermofisher, Catalent, Bodelian Libraries, the UK Space Agency, Oxford Brookes University and the University of Oxford to name but a few examples.

“The Thames Valley area, including Swindon and Oxfordshire, is one of the UK’s economic powerhouses, but there’s untapped growth here that could help our businesses and communities thrive.

“Greater regional collaboration is a Positive-Sum Game and will support the region’s shared ambitions by creating a pathway to secure greater powers and long-term funding.

“As Andy Burnham’s expected premiership looks set to put devolution at the heart of its growth agenda, there is a significant opportunity for Thames Valley to crack on with delivering better transport, housing, infrastructure and skills.

“There will be a real opportunity cost if plans are delayed or scrapped altogether.”

Oxford City Council has also expressed its disappointment at Oxfordshire County Council for scrapping a devolution deal that would have brought billions of pounds of investment to the Thames Valley.

Councillor Susan Brown, leader of Oxford City Council, said: “People across the region are crying out for change – for secure jobs, affordable homes and better public transport – and this deal would have been an important step in helping to achieve that.

“I am very disappointed in Oxfordshire County Council’s decision. I want to acknowledge and thank the many organisations and leaders – across both the public and private sectors – who contributed their time, expertise and support to develop this proposal and to reassure them that Oxford City Council will continue to work towards achieving devolution of powers and finances to our local area.

“We remain fully committed to working with partners across the Thames Valley to secure the best possible outcomes for our city and the region. With changes in national leadership and local government in Oxfordshire, we hope we can revisit the conversation again soon.”

Oxford City Council’s Cabinet will discuss the decision and the impact on Oxford’s economy at a meeting on July 8.