The government will back northern growth with a 150 million fund from the British Business Bank to scale up fast-growing firms, alongside creating a Northern 500 of the North’s most ambitious mid-sized businesses led by regional mayors.

The Northern 500 will form a North-focused growth community by bringing 500 mid-sized firms under the Great North partnership, supported by private sector and central government.

The scale-up fund will provide 5 to 15 million investments to back innovative and fast-growing firms, including university spin-outs, across the North of England.

Fiscal devolution is on the agenda, with Healey pledging to transfer power out of Whitehall and publish a roadmap in the upcoming Budget.

The plan also emphasizes reducing Whitehall’s reach by devolving financial power to regions, guided by a clear devolution roadmap.

A broader shift of power from central government is framed as empowering regional authorities through fiscal devolution.

Judicial review processes for major projects will be streamlined, including a fixed Challenge Window to identify and handle legal challenges earlier.

Regulators will be engaged later this year to prepare for the Spending Review and identify practical changes to accelerate growth.

The Chancellor described an optimistic view of the UK economy’s future, citing latent potential and opportunities from new technologies despite global crises.

He framed the economy as turning a corner with growth, innovation, and opportunity, stressing long-term potential.

There is an emphasis on a forward-looking UK economy ready to seize opportunities from technology and ideas.

Reforms will push to cut unnecessary consultations, improve democratic accountability, and shift government culture from process to delivery, aligned with the No10 North initiative.