The UK is one of the most centralised countries in the developed world, and one of the most regionally unequal. Now, the government has promised the biggest shift of power out of Westminster in a generation. This paper shows how centralisation holds back regional growth, and why fiscal devolution is the key to unlocking the economic promise of devolution.
We set out a practical roadmap for the devolution of tax, spend and borrowing powers: what to devolve, how to sequence it to local capacity, and the safeguards needed make it fair and sustainable. We offer a blueprint for delivering the government's commitment to fiscal devolution, and making it work.
