PHILIP Hammond will approve a superhighway between Oxford and Cambridge, via Milton Keynes, by investing £27m towards its development, it has been revealed.

The Chancellor of the Exchequer is also expected give the go-ahead for a new rail link between the two university cities in his Autumn Statement on Wednesday, The Sunday Times understands.

The cash injection would be part of a £1.3bn 'mini budget' to improve and build new roads across the country.

There are three options that have been proposed for the route of the highway.

Oxford Mail:

A map of existing roads being looked at as part of the study area for the superhighway​

Mr Hammond is also set to scrap a planned 2p rise in petrol prices.

It is understood the roads and rail investment is part of a package of measures to be unveiled by Mr Hammond and Theresa May aimed at getting the economy 'match fit' for Brexit.

It comes as the National Infrastructure Commission urged the Government to seize a ‘once in a generation opportunity’ by plough millions of pounds into new transport links between Oxford and Cambridge.

The commission has called on ministers to accelerate plans for an ‘expressway’ road and ensure the railway between them is restored by the early 2030s.

Meanwhile, it called for £27m towards development of the Oxford-Cambridge Expressway up to 2018/19, adding detailed designs were needed ‘as soon as possible’.

The expressway would be ‘the first, high-quality road link from Oxford to Cambridge’ and would provide ‘considerable national benefits’, the commission said.