Mayors to gain new financial powers under upcoming devolution plans
The Guardian · July 30, 2026Original source ↗
What happened
Regional mayors in England will have the ability to borrow for major projects under new plans, allowing them to retain a portion of income tax and business rates from their regions. This initiative aims to reduce reliance on government funding from Whitehall, starting from 2028.
Why it matters
This change could impact local governance and funding for projects across English regions.
Who feels this
If you rent your home
Increased funding for local projects could lead to improvements in infrastructure and services in your area, potentially enhancing your living conditions.
If you are a small business owner
The ability of mayors to retain a portion of business rates may result in more local investment and support for small businesses, which could help stimulate economic growth in your region.
If you are a commuter
New financial powers for mayors could lead to better public transport projects, improving your daily commute and potentially reducing travel times.
What does this mean for YOU, specifically?
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