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

Chancellor seeks to tackle centralised and ‘geographically unequal’ country in ‘a genuine break with the past’

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Rachel Reeves has announced that the Treasury will draw up plans to give regional leaders a share of national tax revenues as part of a radical plan to rebalance the economy of England.

Setting out her intention of creating “investment-led growth”, the chancellor promised “a genuine break with the past” that would shift spending power away from Westminster.