00:00The West Midlands could keep a share of income tax raised in the region for the first time
00:05under devolution plans announced by Prime Minister Andy Burnham.
00:09Mayor Richard Parker called the change monumental, saying greater control would help address
00:14living costs, regenerate high streets and support young people into work.
00:20City region mayors could also retain some business rate revenue and gain powers over
00:25housing, transport and skills.
00:27However, the exact proportion of tax has not been revealed and further details are expected
00:32in the autumn budget.
00:33Opposition parties warn the proposals remain unclear and could create a postcode lottery
00:39between stronger and weaker regional economies.
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