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Financial Times — World — Fiscal Decentralization — Tax — UK Budget — Uk Business & Economy

Mayors argue more autonomy will solve UK’s low productivity spiral

Mayors of Greater Manchester and West Midlands are arguing for fiscal decentralisation to solve the UK’s low productivity spiral. Chancellor Jeremy Hunt announced more flexible funding pots and retention of locally raised business rates for mayors.

1 min read
  • Mayors of Greater Manchester and West Midlands call for fiscal decentralization for economic growth.
  • UK's centralised funding system and low local tax collection hinders mayors' quick action.
  • Chancellor Jeremy Hunt announces more flexible funding pots and retention of locally raised business rates for mayors.
  • Fiscal decentralisation rising up the agenda in Britain, which ranks as one of the most centralised countries.
  • Decentralisation debate is set to grow louder with more mayors to be elected next year.
Mayors argue more autonomy will solve UK’s low productivity spiral
Chancellor gives more power to England’s regions after local leaders make case for devolution as route to higher growth
Financial TimesJennifer Williams

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