English mayors are set to gain unprecedented financial power starting in 2028, keeping a share of local income tax and business rates to fund transformative projects—transport, housing, jobs—without waiting for Westminster. This historic shift, dubbed the biggest devolution in a generation, lets combined authorities take out 30-year loans for big initiatives, ending years of funding constraints. Mayors can now offer local tax breaks and tailor investments to community needs, while the government aims to prevent regional inequality by encouraging non-mayoral areas to form their own authorities. It’s a bold move toward a more locally controlled, less centralized England.
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