UK plans £285 million growth funding for English mayors

The UK government plans to give English mayors and local authorities more funding and flexibility over investment, including £285 million for local growth next year, under measures expected to be announced in the Budget on Wednesday. The proposed Good Growth funding is intended to reduce local leaders’ reliance on separate central-government bidding pots. The government says local authorities would have greater scope to direct investment toward local priorities, rather than seeking funds through multiple programmes managed from Whitehall. Ministers also plan to work with mayors on a £1.5 billion borrowing facility from 2028, giving local leaders access to capital for projects. Its design has not yet been set out. The government says strategic authorities will receive a further £150 million next year to build capacity to take on new powers and manage complex investment programmes. The Treasury says areas without strategic authority status will be able to access a share of the funding during a transitional period. The announcement does not specify how that share will be distributed. The proposed measures had not yet been formally unveiled in the Budget at the time they were...