Anonymous17 days ago
Chancellor Rachel Reeves has announced plans to give England's regional mayors control over a share of income tax revenues, the most ambitious fiscal devolution proposal in English history, unveiled during her Mais lecture on March 17, 2026. Backed by £2.3 billion in new City Investment Funds concentrated in the North and Midlands, the proposal aims to break the cycle of centralisation that has left the UK with some of the worst regional economic disparities in the OECD — but critical details on implementation, fiscal equalisation, and the scale of devolution remain unresolved ahead of an autumn Budget roadmap.