Shadow Chancellor John McDonnell says he wants to break up the Treasury and devolve some powers to the North.
The Labour politician is set to use a speech in Liverpool today to pledge an 鈥渋rreversible shift in the centre of gravity in political decision making and investment鈥 from London to the North.
That is set to include announcing a 拢150bn "social transformation fund" to upgrade homes and infrastructure that will be delivered by a National Transformation Fund unit of the Treasury.
Mr McDonnell is set to say: 鈥淥ur aim as a Labour government is to achieve what past Labour governments have aspired to. An irreversible shift in the balance of power and wealth in favour of working people. That means change means investment on a scale never seen before in this country and certainly never seen before in the North and outside of London and the South East.
鈥淭o achieve that objective also requires therefore an irreversible shift in the centre of gravity in political decision making and investment in this country from its location solely in London into the North and regions and nations of our country.鈥
The shadow chancellor will also say that the Treasury's powers need to be devolved from London to make that happen in all regions of the 海角视频.
He will say: 鈥淏ut it鈥檚 not just about spending more. It鈥檚 about how it鈥檚 spent. With decision-making devolved down to local communities.
鈥淪o we鈥檒l carve out part of our National Transformation Fund for a Local Transformation Fund in each of England鈥檚 regions. With money for the devolved governments as well of course.
"And that money will be ringfenced for infrastructure projects decided and developed at a local level. With decisions made transparently and democratically in each region about how their fund is allocated.
"And regional offices of government departments overseen by a board of local county and city council leaders with that board publicly accountable to open meetings of local councillors, trade unions and business representatives. They will be supported by a National Transformation Fund unit of the Treasury.
鈥淚 can confirm that this powerful section of the Treasury Unit will be based here in the North. At the same time my Treasury ministerial meetings will no longer be solely in London. Labour鈥檚 Treasury ministers will meet outside of London and will have a ministerial office in the North. The centre of gravity of political gravity is shifting away from London.
鈥淭his is where the investment is needed and this is where those decisions on investment need to be made on the ground."
Yesterday Prime Minister Boris Johnson launched the Conservatives' election campaignn.
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He again vowed to get Brexit done and said a "flood of investment" would come in if Britain left the EU in line with his withdrawal agreement.
He said: "If we can get this deal over the line with a sensible majority government, we certainly can release that pent-up flood of investment.
"Hundreds of billions are waiting to pour into the 海角视频 and we can inject a surge of confidence into our system."
Meanwhile the Liberal Democrat leader Jo Swinson insisted she was ready to take on Boris Johnson and Jeremy Corbyn.
