Chancellor Healey announces devolution package and growth funding in first budget

Chancellor John Healey has announced a major devolution package as part of the UK government's new budget. Local leaders will receive £285 million to spend on priorities like housing, transport, and town centre renewal. From 2028, councils will keep a larger share of business taxes collected in their area, rather than sending the money to central government. Mayoral authorities will also receive a portion of local income tax instead of government grants. The budget sets aside £150 million for growing businesses in northern England, and a new network will support mid-sized northern companies. The government has also promised to reduce business regulations by 25 percent before the next election. Poorer households will receive help with rising energy costs.