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.

How this story affects people

How does this story affect you 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.

How does this story affect you 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.

How does this story affect you 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.

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