CBI responds to plans for fiscal devolution

Rain Newton-Smith, CBI Chief Executive, said:

“Businesses will welcome moves that give mayors more predictable funding to support local job creation, investment and growth. Greater fiscal certainty can help local leaders plan beyond short-term funding cycles and work with firms to back the infrastructure, skills and regeneration projects that can unlock the full economic potential of England’s regions.

"While this marks a positive step for English devolution, we must stay laser focused on detail and delivery. Any new revenue-sharing model must reward genuine additional growth, support a fair balance between regions, provide genuine flexibility and be matched by strong accountability – ensuring devolved funding delivers clear outcomes for communities and businesses alike. It must also work for taxpayers and employers who collect income tax through PAYE and avoid adding to existing data collection and tracking requirements in an already complex tax system."