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York and North Yorkshire Mayor Welcomes More Cash and Powers to Drive Growth
The Budget includes £285 million in transitional seed funding and a planned £1.5 billion borrowing facility for strategic authorities.
English mayors will receive new powers and expanded funding in Wednesday's Budget, granting local authorities greater flexibility to make investment decisions and boost economic growth.
Prime Minister Andy Burnham, who has long advocated decentralization from Whitehall, said the move ends local leaders going "cap in hand" to Westminster, reducing reliance on "fragmented bidding pots hosted in Whitehall."
Government allocated £285 million in transitional seed funding for next year, while a new £1.5 billion borrowing facility starting in 2028 provides greater capital access for infrastructure projects.
West Yorkshire Mayor Tracy Brabin welcomed the funding as "set to go further than ever before," while London Mayor Lord Sadiq Khan said it could "help unlock transformational infrastructure projects."
Chancellor John Healey characterized the plan as a "down payment" on the promise to devolve powers, aiming to harness "untapped and wasted" potential in English cities and regions.