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Burnham promises an end to mayors going 'cap in hand' as Wednesday's Budget unveils £1.5bn borrowing facility

Burnham promises an end to mayors going 'cap in hand' as Wednesday's Budget unveils £1.5bn borrowing facility

Chancellor John Healey is to hand mayors an initial £285m in 'good growth' cash next year, replacing what the Treasury calls 'fragmented bidding pots' run from Whitehall. The £1.5bn borrowing pot will not arrive until 2028 and will be designed with mayors over two years. Treasury officials fear some councils lack the capacity to run bigger budgets. So £150m more will go on building their expertise.

Healey says regional potential has gone 'untapped and wasted' while power stayed in Westminster.

More than £1bn for social housing will push the 10-year homes programme past £40bn.

Areas without strategic authority status will still get a share during a 'transitional period'.

MoreBBC NewsBudget to include £1bn for social and affordable housingEvening StandardBudget to increase cash for social housing and give England’s mayors more powersLBCBudget to grant extra funding for England's mayors and regional leaders to make most of 'wasted' potentialReutersUK budget set to hand English mayors new borrowing powers, growth fundingThe GuardianHealey’s first budget to include big devolution package to boost growthThe IndependentEnglish mayors to get new powers and more funding to boost regional growthBBC News - BusinessSmall businesses in West Midlands urge chancellor to ease pressure in BudgetBBC News - BusinessFirms 'holding back' on new jobs ahead of BudgetDaily MailChancellor set for extra £70bn borrowing bingeBBC News - BusinessBudget 2026: No more fat to trim for 'squeezed middle'BBC News - BusinessFour ways Labour could raise money in the Budget without hiking income taxDaily Mail NewsBudget will unveil £70billion borrowing to pay welfare bill, city experts warns
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