According to the Guardian, Treasury minister Torsten Bell defended the budget's modest "breathing space" measures against claims that they marked the end of four decades of neoliberalism, calling the fiscal devolution roadmap a step change. The commentary notes that some commentators are increasingly using former Labour mayor Andy Burnham's long-term rhetoric to imply a gap between promises and action. From 2028, mayoral strategic authorities will begin receiving a share of income tax receipts for the first time, the newspaper reports, alongside an allocation of 20% of business rates revenue from next year — a figure that could rise to 100% by the end of the decade. A new overnight visitors levy will add further local income streams. The editorial argues that merely replacing government grants with local taxation will not, in itself, reduce regional inequalities, but that the political implications are far-reaching.
Source: The Guardian.
