The move, part of plans to improve 165 traffic bottlenecks across the UK, follows a successful funding bid made by Milton Keynes Council.
The decision has been welcomed by Milton Keynes’ two MPs Iain Stewart and Mark Lancaster, pictured.
Mr Stewart (left) said: “Like many local motorists, I have often been caught up in congestion on the A421. This investment will reduce journey times and the financial and environmental costs of being stuck in traffic jam.
“It will be of significant benefit to the many distribution and logistics companies that are located in the south east of Milton Keynes. Once the improvements are completed, our city will be even more attractive for inward investment because of easier transport links.”
Mr Lancaster added: “This is great news for the city and I am pleased that the government have responded to our continued calls for ‘I before E’ or ‘Infrastructure before expansion’.
“It underlines the commitment that this government is showing for the future of Milton Keynes and hopefully this will be another reason to ensure we remain the number one place to invest in the UK.”
