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Next Week’s Budget Grants English Mayors New Powers, Funding

By Drooid · Oct 25, 2026, 10:22 AM UTC · How we work

Summary

Story summary

Finance Minister John Healey will allocate new funding and powers to English mayors in next week’s budget.
Mayors and the government will design a £1.5 billion borrowing facility.
A £285 million Good Growth seed fund will be available next year.
Good Growth money can finance housing, high-street regeneration and transport-link projects.
Prime Minister Andy Burnham said the plan ends mayors’ “cap-in-hand” reliance on Westminster.

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Story summary

Finance Minister John Healey will allocate new funding and powers to English mayors in next week’s budget.
Mayors and the government will design a £1.5 billion borrowing facility.
A £285 million Good Growth seed fund will be available next year.
Good Growth money can finance housing, high-street regeneration and transport-link projects.
Prime Minister Andy Burnham said the plan ends mayors’ “cap-in-hand” reliance on Westminster.