Municipal bonds could create genuine local economic autonomy. But they require infrastructural change to work, writes Tim Focas.

If Andy Burnham wants a municipal bond revolution, he must first build the fiscal architecture to make it sustainable

Municipal bonds could create genuine local economic autonomy. But they require infrastructural change to work, writes Tim Focas.

At the time Burnham proposed this extra £40 billion of borrowing, the government was running a deficit of nearly £140 billion a year.