Abandoning fiscal devolution would be the wrong move by Labour - The Yorkshire Post says

The core idea of levelling up was to prise power from the corridors of Whitehall and place it into the hands of local leaders, who have a much better idea of the impact their decisions will have and are also directly accountable.

Therefore it is bitterly disappointing that both the Tories and Labour have shut the door on fiscal devolution. Neither party will offer Mayors tax powers after the next General Election.

Regions should be allowed to keep and reinvest more of the tax they raise locally. It would make the whole process of public expenditure more streamlined and focused. And it would certainly make a huge difference to the begging bowl funding model for local areas.

While politicians in Westminster trip over themselves to find the solution to Britain’s low growth riddle, the answer is staring them in the face. The highly centralised system of public finances is hindering growth.

Regional inequality continues to grow and yet neither of the two largest parties wants to empower English regions to enable them to start bridging that divide.

This is about creating opportunities for the next generation. Yorkshire has shown glimpses of its potential but that is all it has been, glimpses. Last week’s announcement of the Investment Zone in South Yorkshire shows there’s a real economic opportunity here.

The current Government ran out of excuses long ago following repeated failures to deliver on levelling up. But Labour risks failing on tackling regional inequality before it’s even entered government.