UK to devolve more fiscal powers to regions, finance minister Reeves says

UK to give regions more control over taxes to drive growth, says Finance Minister Reeves.

Reuters

March 17, 2026

UK to devolve more fiscal powers to regions, finance minister Reeves says

Britain's Chancellor of the Exchequer Rachel Reeves leaves 11 Downing Street on the day she is to deliver the Mais Lecture, in London, Britain, March 17, 2026.

Isabel Infantes/Reuter

British finance minister Rachel Reeves said she is looking at ways to devolve more fiscal powers to different regions within the country, including some control of taxes, as part of efforts to drive growth and productivity.

She said on Tuesday that officials were working to "develop a roadmap for future fiscal devolution" which would be published at this year's budget.

"This will set out plans to give regional leaders controls of a share of some national taxes," Reeves said in a speech in the City of London financial district.

-Reporting by Muvija M and William Schomberg, writing by Sarah Young; editing by Alistair Smout/Reuters