The Chancellor, John Healey, is expected to use today's Budget to let regional leaders in England keep a share of the tax raised in their areas, the BBC reports, as relayed by Newscord. This would go further than the extra powers and funding for mayors the Treasury confirmed at the weekend.
According to the BBC, a new £1.5bn borrowing facility has already been announced as part of the same approach. It is not clear when or by whom that facility was announced.
Healey told BBC Newscast he wants "really radical devolution of powers and resources to local leaders".
A report carried by Global Banking and Finance says the Budget will share income tax and business rates revenue with mayors. The Treasury has not confirmed which taxes would be shared or how large a share mayors would keep, and the detail has not been independently checked.
The Treasury had already said the Budget would give England's mayors more powers and funding. According to PA, that includes an initial £285m next year for mayors' "Good Growth" funding.