I am proud Prime Minister, Andy Burnham has asked me to serve as Chancellor. Driving economic growth and opportunity in Yorkshire and in every postcode across the country will be this government’s priority.
For decades, governments have promised to close the gap between London and the rest of the country. These are promises that communities across Yorkshire – including my constituency – have heard before. But they have seen too many boarded-up shops, too many workplaces close and too many decisions taken by people far removed from their communities.
That must change, and we are taking immediate action.
This government is undertaking the biggest transfer of power out of Westminster in a generation, putting power, money and decision-making closer to the people they affect.
Last Friday I was at a community centre in Sheffield with Andy Burnham, where we kicked off that process. Mayors will receive a share of income tax receipts for the very first time, so local areas are better off.
The devolution plans are driven by Labour values. When we were last in government in the early 2000s we set up the Scottish and Welsh parliaments, the London assembly and the mayor, and we are doubling down on devolution now.
In practice, this means that when places create jobs and grow their economies, they will keep more of the rewards of that growth, giving local areas greater powers to invest in local priorities, like transport and housing.
Further details on this and on income tax retention will be set out in a roadmap at the Budget and will be underpinned by our government’s firm commitment to fiscal discipline.
No 10 North is a clear signal that power is shifting out of Westminster – although, as you’d expect me to say, it’s the wrong side of the Pennines. But already in Leeds we have the Department of Health and Social Care, Transport and HMRC, and in Sheffield we have the Department of Education, DWP and the Home Office. And in the North East with the Treasury’s Darlington campus.
The people who best understand the opportunities and challenges facing this region are those who live and work here. They understand what local businesses need to grow, where transport connections need improving, how to develop the skills employers are looking for and where investment can have the greatest impact.
Too often, young people feel they have to leave home to find the opportunities they deserve. A thriving national economy should not require people to choose between ambition and belonging. Talent exists in every Yorkshire town, city and village. Opportunity should too.
That is why I’m focused on five priorities: fiscal discipline, power in every postcode, backing Britain, wealth creation and making life more affordable. National security is this government’s first duty, and it is on the foundation of that security, and of a stable economy, that we can deliver for Yorkshire. We will meet our fiscal rules and ensure that Britain remains a country where businesses are confident to invest and create jobs here in Yorkshire.
That work is already underway. In the last fortnight, we announced action to cut taxes on energy bills, a £2 cap on bus fares from January, a business rates discount for pubs, social clubs and live music venues, and later this year the Prime Minister will set out his 10 Year Plan for Britain, charting the country’s future for the decade ahead.
This is about creating stronger local economies, better public services and a greater sense of ownership over the future for people across Yorkshire. Yorkshire has the talent, ambition and potential to succeed. This government’s job is to ensure it also has the power.
