A major push to strengthen local control over finances in England is set to unfold in next week’s budget, with plans to reduce reliance on central government funding. The chancellor will introduce a £1.5 billion borrowing scheme, developed in partnership with regional leaders, aiming to give cities and mayors greater financial independence. The move follows a pledge from a senior Labour figure to end the practice of local authorities seeking approval from Westminster for key spending decisions. Details on how the new facility will operate and which areas will benefit remain under discussion.
Chancellor will build on Burnham’s promise that local leaders in England will no longer have to ‘come cap in hand to Westminster’Andy Burnham has promised that local leaders in England will no longer have to come “cap in hand to Westminster” ahead of a fresh drive to devolve spending power in next week’s budget.In his statement on Wednesday, the chancellor, John Healey, will include plans for a new £1.5bn borrowing facility, to be drawn up in collaboration with mayors over the next two years. Continue reading...
