Chancellor Phillip Hammond has announced funding of £137m to majorly improve transport links across the East.
In his Autumn Statement, Mr Hammond confirmed investment of £110m for the East-West rail link running between Cambridge and Oxford.
Journey times between Oxford and Bedford would be cut from two hours and 20 minutes to just over an hour.
He also confirmed a £27m investment to plan for a faster route for drivers between the two university cities. The development funding could cut journey times by up to 40%.
The Cambridgeshire charity Magpas has also been awarded with £1m.