The government has committed £1.3bn in infrastructure spending to support Universal's first European theme park in Bedfordshire – a move the chancellor said would create 28,000 jobs and unlock nearly £50bn of economic growth.
Rachel Reeves, who met Universal Destinations and Experiences chairman Mark Woodbury in Downing Street, said the park would open in 2031 and bring 'lots of joy' to visitors. But with the announcement coming during a cost of living crisis, the scale of public money has raised eyebrows.
“Government pledges £1.3bn for Universal theme park in Bedfordshire, creating 28,000 jobs and unlocking £50bn growth.”
Most of the funding – £474m from the Department for Transport – will upgrade the A421 and expand the planned Wixams railway station from two platforms to four, capable of handling the influx of tourists. Universal has requested a new junction on the A421 directly feeding the resort. Further connectivity is expected via Stewartby, on the East West Rail line, with four trains an hour to Oxford by the early 2030s.
A further £400m grant through the exceptional Regional Growth Fund and £438m from the Department for Culture, Media and Sport for 'new community infrastructure' will only be paid once Universal has completed the infrastructure and opened the park.
Reeves framed the public spending as a catalyst for Universal's total £6bn private investment, which she called a 'big vote of confidence' in the UK. 'Universal could have put this pretty much anywhere in Europe, it's their first theme park in Europe... and they've chosen Britain and they've chosen Bedfordshire,' she said.
The project will generate 20,000 construction jobs and 8,000 permanent roles once open. Universal has already hired about 100 people in the UK and received 33,000 expressions of interest through its website.
Addressing local concerns about water infrastructure, Reeves said the government was committed to building more reservoirs in the area as part of its housebuilding plan, adding that Universal itself was 'investing in energy infrastructure at the site as well to make it more sustainable and more resilient'.