The Rest Is Money 262. Does the Chancellor have a growth plan at last?
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Mar 19, 2026 They debate whether the Chancellor finally has a credible growth plan, covering AI, Europe and devolution. They question timing and missed opportunities on growth measures. They discuss giving mayors tax shares, risks to regional fairness, and stalled regeneration projects. They explore dynamic EU alignment for exporters and warn services remain hardest to fix.
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Late But Sensible Growth Plans
- Many sensible growth ideas from Rachel Reeves are overdue and could have been started a year and a half ago.
- Robert Peston argues the government has wasted time and is habitually behind fast-moving trends like AI, undermining impact.
Allocate Devolved Taxes By Need Not Local Yield
- Devolved tax shares must be distributed to meet need, not strictly by local tax raised, to avoid reinforcing regional inequality.
- Steph McGovern warns using locally raised income tax would favour richer southern areas over places like the North East.
Give Mayors Flexible Powers With Growth Targets
- Let mayors decide spending priorities tied to a clear growth mission and hold them accountable.
- Steph says local leaders know regional needs (housing, skills, infrastructure) and should deploy funds to drive economic prosperity.