Fiscal devolution is the way forward for the country - The Yorkshire Post says

It must avoid mistakes of the past and ensure that any economic recovery is not lopsided leaving vulnerable areas further behind.

That is why it is good to hear that there are politicians at the heart of the Government fighting to secure fiscal devolution.

Allowing regions to keep and reinvest more of the tax they raise locally is the right way forward.

Local communities know the priorities in their areas better than any Whitehall mandarin ever will.

The Hunger Games-style funding model that sees communities compete against one another for pots of funding needs to come to an end. It is time and resource intensive, time and resource that could be spent elsewhere.

Therefore, single pot settlements, which are being considered, would also be welcomed. It would give local areas the flexibility to address the issues that are most important to them.

Opposition to fiscal devolution in Government ranks is misguided. Yes, inflation needs to be tackled but as pharmaceutical giant AstraZeneca’s recent decision to choose Ireland over Britain for its new manufacturing shows central fiscal policies are not working. The current arrangement precipitates inertia and is failing to create an environment that would enable businesses to thrive.

Currently, London and the South East sees the bulk of private sector investment and has the most productive economic ecosystems. Opportunities, life chances and health outcomes are impacted by geographic disparities. It’s time to bridge the gap by letting local communities decide how and where their taxes should be spent.