See EWR Co’s announcement:

View EWR Co’s interactive preferred route option map
Bedford to Cambridge: The Preferred Route Option
EWR state: “Linking existing stations in Bedford and Cambridge with communities in Cambourne and the area north of Sandy, south of St. Neots, this route was the favourite among people who responded to our consultation on route options.”
That is, “the favourite” of the 5 Options presented, which excluded CBRR’s.
And “It also provides the most benefits for every £ of taxpayers’ money spent.”
That is, of the 5 Options presented. Actually, by their own admission, their own version of CBRR’s Route provided 10% better value-for-money than their ‘preferred’ Option E.
See Letter to Supporters, whose PS: Costing Analysis: gives details of how EWR Co came to make this admission, revealing an even better CBR. for details, and for more of CBRR’s comments. See also CBRR’s Press Release.
Aidan Van de Weyer
(Deputy Leader, South Cambridgeshire District Council)

“The vitality of the Cambridge – Milton Keynes – Oxford corridor is crucial to the future prosperity of the whole country. We need to make bold investments in infrastructure to support that growth and make it sustainable. The East West Railway is the most important piece of the jigsaw, so we've got to work together and get it right by looking at what all the options can bring.”

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“Our area is driving the UK economy. The scale of development that brings means we must get the infrastructure right and for the sake of our residents and future generations it must be sustainable. Putting both road and rail along the A428 corridor where so much growth is planned delivers sustainable infrastructure with a minimum of planning blight. It is the obvious solution.”
Sebastian Kindersley
(Cambridgeshire County Councillor):