If we’re serious about growth, we can’t just announce projects.

We have to fix the funding model - so cities like Bristol can build the infrastructure that creates businesses, jobs and homes.

France does this differently.

Regions receive a share of national tax revenues, giving them stable funding to invest in long-term infrastructure like tram systems.

We need to take a serious look at how we fund local transport in the UK.

So why don’t we build it?

Mayors take the risk of delivering big transport projects.

But when productivity rises, the increases in income tax, corporation tax and VAT goes straight to the Treasury - not the city that made it happen.

That imbalance matters.

We’ve done this before.

Mass transit connects people to better jobs, supports local business, and makes it possible to build better connected homes.

That’s what productivity should look like: more opportunity, higher pay, and a better quality of life.