Politics · 31 July 2026
Mayors get new borrowing powers, share £100m tax revenue.
© Crown copyright / No.10 Downing Street
Regional mayors will be able to borrow against future income to fund big projects, rather than relying on central government grants. Andy Burnham will announce the new measures on Friday, giving mayors a share of income tax and business rates from 2028 and April 2027. This change is expected to help fund huge transport projects and housing initiatives previously stalled by one-year Whitehall funding.
Reported by The Guardian · How we write briefs