Reeves plans to give England’s regional leaders a share of national tax revenues

The Guardian - World NewsCenter-LeftEN 4 min read 100% complete by Heather Stewart Economics editorMarch 18, 2026 at 01:01 AM

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Rachel Reeves, the UK's Shadow Chancellor, announced plans to redistribute national tax revenues to England's regional mayors. Speaking at the Mais lecture, Reeves stated the Treasury will develop proposals to share national taxes, beginning with income tax, to address regional inequality and shift spending power from Westminster. As part of this plan, new city investment funds totaling £2.3 billion will be allocated to regional "metro" mayors for long-term projects, allowing them to retain future business rates revenue. Reeves emphasized this initiative as a permanent transfer of power, aiming to foster investment-led growth across the UK. The announcement comes as local authorities face funding challenges and amidst global economic anxieties, including the potential inflationary impact of the Iran conflict.

Key Entities & Roles

Key Player Opposition Context

Bayes Business School 30% Ukraine 40% Institute for Fiscal Studies 40% Aditi Sriram 40% Institute for Public Policy Research 40% Neil Amin-Smith 40% Westminster 50% Iran ×250% Treasury ×260% United Kingdom ×470% Rachel Reeves ×690%

Keywords

regional devolution 90% national tax revenues 80% economic rebalancing 70% investment-led growth 60% regional leaders 60% autumn budget 50% income tax 50% global economy 40% funding squeeze 40%

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Positive

Score: 0.30

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The Guardian - World News

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Center-Left (-0.40)

Far LeftCenterFar Right

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90%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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regional devolution national tax revenues economic rebalancing investment-led growth regional leaders autumn budget income tax global economy funding squeeze

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