British Chambers of Commerce urges business-led devolution

The British Chambers of Commerce (BCC) has released a report urging the UK government to place businesses at the center of upcoming devolution plans. The group argues that the success of transferring power from Whitehall to local regions should be measured by whether it facilitates investment, recruitment, and trade.

The BCC proposed a three-stage roadmap: completing the devolution map by the end of the 2027-28 financial year to grant local leaders more funding control; providing local areas a direct share in growth rewards through reforms like business rates retention before the end of this parliament; and eventually allowing mature strategic authorities to vary local taxes within national parameters.

The report follows a BCC survey of 5,000 firms which revealed that only 17% plan to increase investment in the coming months, marking a post-pandemic low. The group expects the Chancellor to outline plans for fiscal devolution in next month’s Budget.