Liverpool City Region Mayor, Steve Rotherham has welcomed this week's national budget announcement, claiming it is a much needed "reset", giving local leaders the tools they need to succeed in the City Region.
Chancellor of the Exchequer, Rachel Reeves announced the National Budget in Parliament today, Wednesday, November, 26, following a leak from The Office for Budget Responsibility (OBR) in the hour prior, sparking an internal investigation.
The Chancellor announced that £13bn worth of funding will be allocated to seven mayors across the country, with Liverpool City Region included.
Reeves stated that the funding is intended to improve skills and businesses, as well as improve local infrastructure. She has also extended the business rates retention scheme until 2029.
The scheme, introduced in 2013, allows local governments to keep a significant portion of the business rates collected from local businesses, rather than sending the total revenue to central Government.
It has also been announced that Mayors will have the power to introduce a levy on overnight stays in UK cities, allowing them to invest in transport, infrastructure and the nightlife and visitor economy.
Steve Rotherham, Mayor of the Liverpool City Region said in a statement: “After 14 years of stop-start government and broken promises, this Budget feels like a reset. It’s not flashy, but it’s serious, and that’s what the country needs to begin moving forward.
“The scale of the challenge this government inherited from its predecessors really can’t be overstated; crumbling infrastructure, soaring debt, stretched services, cash-strapped councils and whole communities written off by Westminster. But this Budget shows a willingness to roll up sleeves and address the tough economic circumstances our country faces."
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"Crucially though, it also gives local leaders more of the tools we need, like the power to introduce a modest tourist levy that could help us reinvest in our visitor economy. It might sound minor, but it’s a sign that government is starting to treat regions like ours as genuine partners, giving us the freedom to stimulate local economic growth.
“In the Liverpool City Region, we know what we are capable of achieving when we’re trusted to deliver. Now we’ve got the opportunity to be part of something bigger, rebuilding not just our local economy, but a fairer, stronger country built from the bottom up.”
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