
Autumn Budget 2026: Wary Healey presents a Ming Vase Budget
By Katherine Langford
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London mayor Sir Sadiq Khan will be handed powers to deliver the Bakerloo Line extension and a huge upgrade to Euston station as part of the government’s push for devolution, City AM can reveal. Under new plans to allow mayors to retain income tax receipts generated locally and exploit finance schemes to fund infrastructure, Khan will be able to push ahead with projects on extending the Bakerloo Line, delivering the West London Orbital and expanding Euston station, according to sources familiar with the matter. Stratford station will also be highlighted in Healey’s Budget as having the potential to become an international hub for travel, after the London mayor revealed in City AM that he was exploring how cross-Channel train services could run from the station. Alongside John Healey’s Budget, a full policy paper on devolution will be published by the government. The effort to spread financial powers to metro mayors, which is referred to as the “biggest transfer of power