There has long been a recognition that buy-in from the Treasury is essential if the Government's programme to tackle regional inequalities is to make headway.

Last week was the strongest signal yet that the lack of support from the Treasury poses an existential threat to the agenda. The Treasury's decision to ban the Department for Levelling Up, Housing and Communities (DLUHC) from making spending decisions on new capital projects without permission from the Treasury, following concerns related to value for money, is a clear sign it is not confident in the current direction of travel.