Bakerloo line extension gets Budget boost from local tax powers

The Bakerloo line extension got a boost in the Budget when the Chancellor announced that local regions can keep more local tax revenue to fund infrastructure projects.
The policy change means money raised locally can be spent locally.
Crucially, it allows regional mayors – such as the Mayor of London – to borrow against future tax revenues. Those powers already exist, but tend to be limited to smaller projects decided by local authorities, rather than regional mayors.
Bakerloo line extension