Market Data 
MANCHESTER, England (Reuters) – Regional mayors across England will be given new powers to boost economic growth and attract investment, British finance minister Rachel Reeves said on Tuesday during a visit to the northern English city of Hull.
The poor economic performance of regions outside the capital, and London’s growing dominance, has become an increasingly acute problem for Britain.
Reeves told the Great Northern Conference that a policy document on English devolution due later this month would include new strategic partnerships between city regions headed by mayors and the Department for Business and Trade.
“We want to support more local leaders, working in partnership with businesses and universities, to unlock their regions’ innovation potential – ensuring everyone benefits from innovation-led growth,” the finance ministry said in a summary of Reeves’ remarks.
She also said that Britain’s innovation and research authorities will produce joint plans with mayors to boost long-term investment.
London’s share of the national economy has surged by over 3 percentage points since 2000 to 24%, with no other British region increasing its share over the same period, according to official data.
Comparable data from the EU statistics agency Eurostat show far less polarisation between regions in Germany and France.
Prime Minister Keir Starmer’s Labour government has said its top mission is to ensure “good jobs and productivity growth in every part of the country”.
