Five things we learned from John Healey’s first major speech as chancellor

The Independent

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1. Chancellor John Healey delivered his first major Treasury speech in Coventry, declaring that the UK economy is turning a corner and committing to strict controls on government spending in next month's Budget.
2. The chancellor confirmed he is in lockstep with prime minister Andy Burnham to meet fiscal rules, balance the books, and reduce government borrowing to curb inflation.
3. To accelerate economic growth, Healey announced that judicial review reforms will be extended to all major infrastructure programmes to prevent vexatious litigation from delaying development.
4. He pledged to transfer power out of Whitehall by setting out a roadmap to fiscal devolution during the upcoming Budget statement.
5. A £150 million British Business Bank fund was announced for fast-growing companies in the North of England, alongside a new Northern 500 group for ambitious mid-sized businesses led by regional mayors.