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UK's Burnham tells Times No 10 North to take economic growth role from Treasury - Finance news and analysis from Global Banking & Finance Review
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UK's Burnham tells Times No 10 North to take economic growth role from Treasury

Published by Global Banking & Finance Review

Posted on August 18, 2026

2 min read

· Last updated: August 18, 2026

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Number 10 North to Take Over Economic Growth Role from UK Treasury, Says Burnham

Number 10 North's New Economic Responsibilities

Transfer of Power from the Treasury

Aug 18 (Reuters) - British Prime Minister Andy Burnham told the Times on Tuesday that Number 10 North, the regional government hub, will take over responsibility for economic growth from the Treasury as part of a transfer of power out of Whitehall.

Establishment of the Northern Government Base

Burnham in July opened the new government base in northern England, in a shift away from what he said was decades of economic decision-making centered in London.

Burnham's Perspective on Decentralization

"It is actually a huge transfer of power," Burnham told the newspaper in an interview. "It's something that the country has never cracked before. I don't wish this to sound, you know, a criticism or negative about the Treasury," he added.

The Manchester Base as a Strategic Hub

The prime minister, who took office less than a month ago, has previously described the base in Manchester as being "the situation room for making Britain better - the place we use to get power out of Westminster, into the hands of people at a local level, so that they can turn things around."

Government's Economic Strategy and Future Plans

Support from the Finance Minister

Burnham also told the Times that British finance minister John Healey supported the approach, and would outline the government's economic strategy in a major speech next month, and a "ten-year plan" of economic and constitutional reforms would be published after the budget.

Upcoming Budget Announcement

Healey will hold his first budget on October 28.

(Reporting by Sumedha Mukherjee in Bengaluru; Editing by Chris Reese)

Key Takeaways

  • Power over local economic growth and devolution policy is being transferred from HM Treasury and MHCLG to No 10 North, marking a significant devolution of economic authority (gov.uk)
  • No 10 North, located at Heron House in Manchester, is intended as a 'situation room' for regional growth, bringing ministers and mayors together regularly (gov.uk)
  • Chancellor John Healey supports the initiative and will deliver his first Budget on October 28, with a ten‑year economic and constitutional plan following thereafter (gov.uk)

References

Frequently Asked Questions

What is Number 10 North's new role?
Number 10 North will take over responsibility for economic growth from the UK Treasury as part of decentralization efforts.
Who announced the transfer of economic powers?
UK Prime Minister Andy Burnham announced the transfer in an interview with The Times.
Where is Number 10 North located?
Number 10 North is based in Manchester, northern England.
What reforms has the government announced?
A ten-year plan for economic and constitutional reforms will be published following the upcoming budget.
When will the UK's new economic strategy be outlined?
Finance minister John Healey will outline the new strategy in a major speech next month, before his first budget on October 28.

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