A Labour government could move part of the Bank of England from London to Birmingham, according to a new report.
The move is designed to strengthen the UK’s regions and make the country less London-centric.
Sky News reports the relocation could follow if the party wins the next general election.
Labour would also set up a National Investment Bank and Strategic Investment Board in Birmingham.
The party could also set up satellite offices in Belfast, Cardiff, Glasgow, Newcastle and Plymouth.
The report was written for Labour by GFC Economics.