The UK government wants to give regional mayors in England more money and more freedom. Chancellor John Healey is due to announce it in the Budget on Wednesday 28 October. The plan was trailed by Prime Minister Andy Burnham.
Three figures matter most. In 2027 the regions will receive £285 million from the new “Good Growth” programme. From 2028 a £1.5 billion loan facility, designed together with the mayors, will launch. A further £150 million in 2027 will go to strategic authorities for staff and specialists.
Local leaders are to spend the “Good Growth” money according to their own priorities, without approval from ministries in London. This includes new homes, renewal of high streets and better transport. The prime minister says the days of regions going to Westminster “cap in hand” are ending. The plan has been backed by the mayors of Greater Manchester, the West Midlands, London, West Yorkshire, the Liverpool City Region, the North East and the East Midlands, among others.
What it means for you
For families, it is a chance of more homes and better bus or rail links in the region. The effects will not come quickly, though. The first money will flow only in 2027.
For businesses – especially construction, renovation, transport and retail – it is a signal that some public procurement will shift from London to the regions. Contracts will increasingly be decided by the mayor’s office rather than a ministry. A Polish firm that knows its region can benefit.
Note: the plan applies to England. Scotland, Wales and Northern Ireland have separate funding arrangements.
Our assessment
This plan will very probably be in the Budget, as it has the backing of the prime minister himself, who previously ran a similar fund as Mayor of Greater Manchester. However, £285 million for the whole of England is not a large sum – split between regions, it means a few tens of millions each. The real change may only come with the loan facility from 2028. It is not yet known how it will be divided or where the government will find the money. It is worth waiting for the details on Wednesday.
What to do
- Businesses: register on the public procurement portal and set up alerts for your region – Find a Tender (GOV.UK).
- Check the website of the combined authority in your area – support programmes and consultations will be announced there.
- Follow the Budget on Wednesday 28 October – we will report what from the plan has come into effect.
Source: Reuters (via Yahoo Finance) (24.10.2026); East Midlands Combined County Authority (24.10.2026).
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