Chancellor Rachel Reeves has pledged £1.3bn in taxpayer support for Europe’s first Universal theme park, a project she says will create 28,000 jobs and unlock nearly £50bn of economic growth by the time it opens in 2031. The commitment came after Universal Destinations & Experiences chairman Mark Woodbury met Reeves in Downing Street, where she described the development as a “big vote of confidence” in the UK.
Most of the money – £474m – has been allocated by the Department for Transport to upgrade the A421 and expand the planned Wixams railway station from two platforms to four, capable of handling the influx of tourists. Universal has already said it wants a new junction on the A421 to feed traffic directly into the resort. Further connectivity is expected via Stewartby, which is slated for the East West Rail line, with a promise of four trains an hour to Oxford by the early 2030s.
“Government commits £1.3bn for Universal theme park in Bedfordshire, promising 28,000 jobs and £50bn growth by 2031.”
The government will also provide a £400m grant through the exceptional Regional Growth Fund and a £438m grant from the Department for Culture, Media and Sport for “new community infrastructure”. Both grants will be paid only once Universal has completed that infrastructure and opened the park.
Reeves said the project would bring “lots of joy” to visitors, but acknowledged local concerns about water infrastructure, saying the government was committed to building more reservoirs as part of its plan to build more homes. She added that Universal itself was “investing in energy infrastructure at the site as well to make it more sustainable and more resilient”.
Universal has already hired about 100 people in the UK and has had 33,000 individuals expressing interest in employment through its website. During construction there will be 20,000 jobs, with a further 8,000 once gates open. The chancellor stressed that the £1.3bn government support helps unlock Universal’s direct private investment of £6bn, which she said would boost jobs and the country’s economy. “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.