Chancellor Rachel Reeves announced plans to give England's regional mayors a share of national tax revenues, beginning with income tax, as part of efforts to rebalance the economy away from Westminster's centralized control. Treasury officials will develop proposals for the autumn budget, and Reeves also unveiled £2.3 billion in new city investment funds for regional leaders to spend on long-term projects.
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Chancellor Rachel Reeves announced plans to give England's regional mayors a share of national tax revenues, beginning with income tax, as part of efforts to rebalance the economy away from Westminster's centralized control. Treasury officials will develop proposals for the autumn budget, and Reeves also unveiled £2.3 billion in new city investment funds for regional leaders to spend on long-term projects.