The British Prime Minister will promote a "great transfer of power": the responsibility for economic growth will be transferred from the Treasury to "Northern Powerhouse 10."

UK Prime Minister Andy Burnham stated in an interview that he will transfer the responsibility for economic growth from the UK Treasury to his new office in Northern England, marking a significant redistribution of economic policy-making power. Burnham, who took office last month, has focused on devolving more powers to regions outside London while tightening control over economic affairs and relocating some administrative functions to the "No. 10 North" office in Manchester. Previous reports indicated that Burnham would allow the Prime Minister's Office to have greater oversight of the economy, rather than formally splitting the Treasury, as suggested by some Labour supporters and advisors. In a special interview with The Times published on Tuesday evening, Burnham noted, The Treasury has its established responsibilities in controlling public finances, but the dual task of economic growth and fiscal management sometimes blurs the growth mission. He expressed clear support for the growth mission being led by the No. 10 Office, and stated, This is, in fact, a tremendous power shift. Reports suggest that John Healey, who took over as Chancellor of the Exchequer from Rachel Reeves when Burnham assumed office, fully supports this plan. Healey's first budget announcement is scheduled for October 28, when he will need to balance the fiscal accounts while funding the spending ambitions of the new Labour government. On Tuesday evening, Downing Street announced a special plan totaling 442 million (approximately $599 million) to address homelessness and rough sleeping issues. Housing Secretary Angela Rayner stated that this brings the annual budget total for homelessness to a record 4 billion. Rayner said in an interview, We want to provide everyone with a place to stay before Christmas without having to sleep on the streets. Rayner also emphasized that the transfer of power from the Treasury to the Prime Minister's Office does not signify a demotion for Healey. She stated, All of usincluding the Chancellorbelieve that we will work with our partners to ensure they feel empowered in this process, enabling them to drive local economic development.