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Devolution will be “default in our constitution” rather than “at the whim of a minister in Whitehall”, Angela Rayner said as she launched plans to overhaul local government. Under the reforms ...

When tax-wary residents meet a stiff rise in municipal costs, it can keep some towns in a holding pattern, even after talking it out at town meeting. That’s when a default budget kicks in, which ...

Growing financial distress in regions across China is raising the risk of local governments defaulting on their bonds, as the nation presses on with its costly zero-Covid strategy. The weakening of ...