Major changes to the way councils and regional authorities are funded have been announced in the Budget, with more money set to be controlled locally rather than by Whitehall.
The Government's new Fiscal Devolution Roadmap sets out plans to give local leaders greater control over tax revenues and long-term investment, describing the changes as the biggest fiscal devolution in a generation.
But what does that actually mean for residents?
One of the biggest changes concerns income tax. From April 2028, mayoral strategic authorities will be assigned a proportion of the income tax generated by people living in their areas.
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This does not mean a local mayor will be able to increase or cut people's income tax. Rates and thresholds will continue to be set nationally.
Instead, some of the income tax already being paid will effectively form part of the mayoral authority's funding, giving them greater freedom to invest locally.
The Government says this could be used for priorities including transport, housing, skills and regeneration.
Authorities will also be rewarded when their economies grow, although safeguards are proposed to prevent richer areas racing too far ahead of others.
Business rates will change too. From 2027, mayoral authorities are due to receive a 20 per cent share of locally retained business rates, while the Government's longer-term ambition is for local and regional government to retain all business rates income before the end of the decade.
Another significant change is the proposed Overnight Visitor Levy.
Strategic authorities will be allowed to introduce a charge based on the cost of overnight visitor accommodation if local leaders choose to do so.
This could potentially affect hotels and other commercially-let visitor accommodation, although some accommodation could be exempted.
Money raised could then be invested in local priorities, including improving the visitor experience.
The reforms are particularly significant for areas moving towards mayoral devolution because the Government says the highest level of fiscal devolution, including receiving a share of income tax, will only be available to areas with a directly elected mayor.
The Budget has also confirmed £285 million nationally for Good Growth Funds in 2027-28, including money for areas moving towards devolution, alongside plans for a £1.5 billion borrowing facility for mayoral strategic authorities from April 2028.
However, much of the detail is still to come.
The Government says the starting allocations for the new income-tax system will be determined at the next Spending Review, while further details of its wider plans to transfer powers from Whitehall are due to be published later this year.
Cllr Ian Thorn, leader of Wiltshire Council, joined the leaders of Dorset, Somerset and Bournemouth, Christchurch and Poole in welcoming the Government's commitment to support devolution for Wessex.
The council leaders said this could give the region greater control over transport, housing, skills, regeneration and economic growth, allowing funding and investment to be directed towards local priorities. They said Wessex was “ready” and that they would continue working with the Government towards an agreement.
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