00:00Today's announcement will make sure that we can drive growth into every postcode in the country.
00:04For too long the devolution agenda in England has been unequal and we've seen some areas able to race ahead
00:10with the powers and resources that others haven't enjoyed. This will set out a path for every area in England
00:15to have what's known as a strategic authority and they will be able to retain their income tax business rates
00:21that will mean that they can enjoy a share of the growth that they generate and keep on investing
00:26in their local economies, in their public services and in their transport networks.
00:30We see this work really well across Europe and we are the most centralised nation in the G7
00:36which has held growth and productivity back for too long.
00:39So it's an incredibly exciting announcement today, the biggest shift of power out of Whitehall in a generation
00:45that will transform our country in the long term.
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