Nick Clegg has hailed government plans for a £5billion regional pot as opening a new era for England's regions.
"This is something that turns a page of decades, generations of over-centralised bossiness from Whitehall," the Deputy Prime Minister told Good Morning Britain.
"I'm really excited because you just get a lot more bang for your buck."
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The Bank of England governor has suggested there may soon be a cut in interest rates.
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The Queen was joined by the Prime Minister, who will visit the battlefields on Friday.