The Mayor of the East Midlands has welcomed today’s Autumn Budget setting out plans to give mayors more control over locally raised money.

These changes will help Mayor Claire invest in local priorities, support businesses, and create jobs.

Mayor of the East Midlands, Claire Ward, said: "It was brilliant to be present for the Autumn Budget, the first by our new Chancellor, John Healey and particularly heartening to hear his support of the upcoming Trent Sports District in Nottingham.

“This budget is one that recognises the vital contribution that the East Midlands plays in national economic growth. The £2.5 billion investment into Rolls-Royce to develop the next generation of jet engines is hugely significant. With one of its major sites based in Derby and thousands of people from right across the East Midlands working there.

The Mayor of the East Midlands, Claire Ward, has welcomed today’s Autumn Budget. Chancellor John Healey has set out plans to give mayors more control over locally raised money, alongside major investment into Derby’s aerospace industry.

placeholder image — The Mayor of the East Midlands, Claire Ward, has welcomed today’s Autumn Budget. Chancellor John Healey has set out plans to give mayors more control over locally raised money, alongside major investment into Derby’s aerospace industry.

“The decision to give mayors a 20% share of business rates income from next year is also an important step towards greater local control and means I can prioritise funding where it matters most to residents.

“I am also delighted the government is funding £100m nationally into a local apprenticeship service to match young people to employers, as well as increasing the small business rates thresholds, which will provide much-needed breathing space for many firms in the East Midlands.

“At a time when many families are feeling pressure when paying the bills, it is also very encouraging to see additional support for households through the £100 discount on energy bills for council tax bands A-D.

“Taken together, these measures have the potential to support people, businesses and jobs across the East Midlands, and I look forward to ensuring that our region makes the most of the opportunities this budget brings.”

Under the government’s plans, Mayor Claire will receive 20% of business rates that are raised locally from next year. Business rates are taxes paid by many businesses on the properties they use – such as shops, offices and pubs.

The government also plans for all business rates raised locally to be kept within local areas by the end of the decade. From 2028, mayors are also expected to receive a share of income tax, giving them more opportunities to support communities where it is needed most.

Today’s Budget statement also highlighted the £285 million of funding to support mayors and local leaders that was announced last week. The Government also confirmed a new £1.5 billion loan facility which will give mayors access to the money needed to back local priorities that build growth in every postcode.

Mayor Claire said for the people of the East Midlands, this could mean more opportunities to invest in the things that matter in the region, from better public transport connections to new high-quality homes and the skills needed to get good jobs.

The Autumn Budget also sets out support for the East Midlands’ aerospace and advanced manufacturing industries.

The government and Rolls-Royce plan to work together on a 10-year programme which is backed by £2.5 billion of funding. The programme will develop the next generation of aircraft engine technologies for both civilian and military use.

This partnership programme is expected to support 3,300 jobs at Rolls-Royce and partner businesses by the end of 2029. It will also help develop the skills and technologies needed to keep the region at the forefront of the aerospace engineering sector.

The previously announced £1.2 billion contract for Alstom’s Derby Litchurch Lane project was also highlighted in the Budget today. The works to build 29 new battery-powered trains as part of the TransPennine route upgrade is expected to support over 350 jobs.

Support for local communities

The Budget also set out a range of support which will help ease the pressure for local residents including £100 million investment into a national apprenticeship service to match young people to employers, small business rate thresholds increased from £12,000 to £18,000 and support for families with their energy bills with a £100 discount for those living in homes in council tax bands A-D.