In these times of financial crisis and credit crunch, it is heartening to see signs of continuing confidence in the future of Oxfordshire's economy.

In Didcot, developers have put together what sounds an impressive and significant proposal to extend the Orchard Centre, to include new shops, homes, restaurants and public space.

In Oxford, the Carlyle Group is pressing ahead with its plan to redevelop the quarter of the city centre behind Queen Street and St Aldates to include a new shopping centre.

Its confidence includes the submission of a planning application next week. In a statement this week, the developers said they were committed to the development in spite of the current market conditions.

What is more, they have had considerable interest from potential tenants.

It does demonstrate that underneath all the chaos in the financial markets is a fundamentally sound economy in Oxfordshire.

The financial chaos we have been witnessing over recent months, and in particular over the last few weeks, has already had an impact in Oxfordshire, in particular in the housing market, and could have an even greater impact in the months to come.

Let us hope that the actions taken by the Government to support the banking sector and the decisions to reduce interest rates will at least mitigate that impact.

The timing of these global events could not have been worse for Oxfordshire. The city stands on the verge of major redevelopment that will transform it for years to come. Both universities have drawn up massive rebuilding projects, the Westgate Centre is to be rebuilt and enlarged and the entire West End of Oxford is to be redeveloped.

In Witney, work has begun on a major new shopping complex and there are hopes that work will soon start on a similar scheme in Bicester.

Amid all the gloom and doom, it is worth remembering that, if all of this can still be achieved over the next ten years — and we believe it can be — Oxfordshire will continue to be a prosperous and exciting place to live.