The Chancellor’s Mais Lecture, traditionally used to set out the government’s economic direction to the City, last week placed regional mayors firmly at the centre of the UK’s growth agenda. 

Alongside a £2.3bn package to unlock major regeneration schemes in northern city centres, the speech pointed to a broader shift. The government is moving away from a system where places bid into central pots, towards one where local leaders have greater control over funding and, over time, a closer link to the tax revenue generated in their areas. 

For the built environment sector, that is not just a governance change. It starts to reshape how projects are funded, how pipelines are formed and who is ultimately driving delivery. For developers, investors and infrastructure providers, it also begins to change where decisions sit and who you need to engage with to bring schemes forward. 

For years, much of this funding has been allocated through central government, typically through specific programmes with certain conditions, with places competing for support through national funding rounds. What is now being set out starts to change that dynamic. Longer-term settlements and greater flexibility should give combined authorities more control over when and where funding is deployed, while the proposed roadmap for fiscal devolution signals an intention to give mayors a stronger stake in the growth they help to create. 

That matters in practical terms. Regeneration is not delivered in funding cycles. It requires long-term planning, coordination across sites and infrastructure, and the ability to respond when opportunities and challenges arise. A system that better supports that should help bring forward more investable schemes, reduce uncertainty around delivery and give both the public and private sector greater confidence to commit. 

There are already signs of what that can look like. In the West of England, the combined authority is working with Homes England to bring forward Bristol Temple Quarter. Greater Manchester is using its Good Growth Fund to drive a coordinated pipeline of regeneration across all ten boroughs. Over in the West Midlands, funding is helping smaller developers unlock brownfield sites that would otherwise remain stalled. 

These examples point to a wider shift. Combined authorities are not just setting priorities, they are playing a more active role in delivery, using funding, partnerships and local knowledge to move schemes forward. In practice, that means they are becoming more directly involved in shaping projects, prioritising sites and coordinating investment across places. 

That shift is also being reflected in how national bodies are operating. Homes England is moving to a more regional model, with new directors working directly with mayors and local partners to shape development pipelines and align delivery with local priorities. Recent government announcements point in the same direction, with more funding flowing through mayoral authorities and a clearer intention to give them greater control over how it is deployed. 

There are still open questions, particularly around how fiscal devolution will work in practice and how risk will be shared. Not every area is at the same stage, and capacity will vary. But the direction of travel is clear. 

For the built environment sector, this is ultimately about how projects get done. Combined authorities are becoming more central to shaping pipelines, unlocking sites and coordinating investment. If this shift continues, they will become increasingly important partners for anyone looking to invest, plan and deliver at scale. That means engaging earlier, building relationships locally and working within a more place-led model of delivery.