Chancellor John Healey has promised to deliver “growth in every postcode” by devolving power from Whitehall and easing regulatory burdens, but dodged crucial questions on tax after last week’s rise in borrowing costs.
Speaking from a manufacturing site today (7 September) in his first major speech as chancellor, Healey set out that central government grants to local authorities will be replaced by a share of local income tax for every mayoral strategic authority from 2028. He also unveiled plans for a £150m allocation from the British Business Bank to scale-up companies in northern England, alongside a ‘Northern 500' initiative to bring innovative businesses into a single community, led by a mayoral partnership and supported by the private sector and central government. The plans form part of Prime...
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