Under the budgetary measures, mayoral strategic authorities will capture 20% of business rates starting next year, potentially expanding to full retention by the decade's close. Starting in 2028, these bodies will also collect a share of income tax alongside proceeds from a new overnight visitors levy. While designed to enhance borrowing capacity and revenue certainty, critical mechanisms to protect poorer districts with smaller tax bases will not be settled until the upcoming spending review.
Key points
Transitioning from central government grants to localized tax revenue aims to provide reg…: Transitioning from central government grants to localized tax revenue aims to provide regional leaders with greater financial certainty.
Crucial safeguards designed to prevent areas with smaller tax bases from falling behind w…: Crucial safeguards designed to prevent areas with smaller tax bases from falling behind will be unveiled in next year’s spending review.
Sustained large-scale investment remains necessary to resolve local crises across public…: Sustained large-scale investment remains necessary to resolve local crises across public utilities, housing, and statutory social care services.
Sources checked by our analysis pipeline: 1
Following Wednesday’s budget, the Treasury minister, Torsten Bell, was challenged by the BBC’s Evan Davis on whether its modest series of “breathing space” measures could truly be said to have ended “40 years of neoliberalism”. This line of questioning is becoming a familiar one. Andy Burnham’s ringing declaration of long-term intent is now being regularly deployed by commentators to suggest an emerging gulf between rhetoric and action.
Mr Bell’s response was a good one. Recalling how “Margaret Thatcher in the 1980s hugely hollowed out local government [and] tried to emasculate our big cities”, he called the fiscal devolution roadmap unveiled in the budget a step change and a really big deal.From 2028, mayoral strategic authorities will for the first time receive a share of income tax receipts, and from next year they will be allocated 20% of business rates revenue. That figure will potentially rise to 100% by the end of the decade, while a new overnight visitors levy will add another local income stream.
These are structural changes that will transform the relationship between local government and a notoriously…
Allegations in an investigative book claim that the prominent intellectual was tortured to death in state custody following his published criticism of normalizing diplomatic ties with Israel. Rights advocates are now seeking an international inquiry to pierce the UAE's official silence regarding the circumstances surrounding his sudden passing. Uncovering these records could expose severe violations of international torture conventions by Emirati authorities.
Ballistic missile strikes carried out on Friday targeted key government infrastructure in Yemen's interim capital. The assaults hit vital locations in the city that currently serves as the base for the country's internationally recognised administration. Authorities have not yet disclosed whether the strikes caused structural harm or human casualties.
Prime Minister Mark Carney and top European leaders have launched a strategic framework to deeply integrate their economies and security architectures beyond standard bilateral treaties. The initiative aims to enhance mutual economic sovereignty and establish the closest ties the bloc has ever held with an external partner. Officials plan to advance the historic alignment during formal ministerial talks scheduled ahead of a mid-year European Council summit.