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Burnham Allocates Income-Tax Share, Grants Mayors £2.3bn

7/31/2026

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Summary

Story summary

Prime Minister Andy Burnham will give city-region mayors a share of income-tax revenue.
Mayors will retain part of business rates, delivering millions, while a 2.5% cut of the 20p basic rate would give London £2.3 bn in 2026-27 and Hull/East Yorkshire £135 m.
Mayors may borrow up to 30-year loans against income for housing and transport projects, with the scheme starting next spring for business rates and from 2028 for income tax.

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Story summary

Prime Minister Andy Burnham will give city-region mayors a share of income-tax revenue.
Mayors will retain part of business rates, delivering millions, while a 2.5% cut of the 20p basic rate would give London £2.3 bn in 2026-27 and Hull/East Yorkshire £135 m.
Mayors may borrow up to 30-year loans against income for housing and transport projects, with the scheme starting next spring for business rates and from 2028 for income tax.