Commenting on fiscal devolution, Richard Bray, Managing Partner for UK Places at Deloitte, said:
“Today’s Budget underlines the ever-growing importance of the UK’s regions and nations to the growth agenda.
“There is huge potential for the UK in having local leaders making joined-up decisions on skills, transport, housing, infrastructure and business investment, as well as in developing long-term plans that harness the distinct strengths of their economies, backed by the funding and revenues to turn these into reality.
“But devolution alone is a means, not an end, to UK-wide growth, and new powers do not generate investment on their own. Businesses need the confidence and stability to innovate, invest and hire, and the measures announced nationally today to bring down the cost of business are important in enabling them to do this.
“Ultimately, growth in every postcode will come from the combination of strong and empowered local leadership laying the groundwork and creating the opportunities for confident and resilient businesses. The opportunity now is to turn greater autonomy into tangible economic growth across the UK.”
