UK Chancellor Healey to unveil £1.5bn devolution borrowing facility in budget

UK Chancellor John Healey will announce a £1.5bn borrowing facility for mayors in next week's budget, building on Andy Burnham's pledge to end 'cap in hand' local funding. The move signals a shift in fiscal power from Westminster to local leaders, though details on allocation and conditions remain unclear. This is a domestic political development with potential implications for regional growth and public spending.

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