Devolution to local government will ‘only be successful’ if communities are given a greater stake in deals, the Co-operative Party has claimed.

It said decentralisation of powers would be a ‘missed opportunity’ unless combined authorities and newly created metro mayors used their new powers to further devolve decision-making to the local level.

Publishing its agenda for city and county regions, the Co-operative Party also pushed councils to present a united case for greater financial devolution with the aim of creating a network of regional mutual banks.