Longer-term settlements should give local leaders greater confidence to plan investment in transport, skills, infrastructure, and economic development around Cumbria’s particular geography and industrial strengths. The UK’s business rates system remains one of the most burdensome property tax regimes in the developed world. The Prime Minister has spoken about improving living standards, reducing inequality, and spreading prosperity more evenly across the country. Government must protect business confidence, reduce the cost of doing business, and accelerate delivery on planning, infrastructure, skills, and energy. The opportunity facing the new Prime Minister is significant.