Osborne Casts His Net Wider Amid Talk of Succession to Cameron

George Osborne expanded his remit beyond economic management, giving more power to U.K. cities and bringing a senior Labour figure into his fold, as speculation mounted over the likelihood of him succeeding David Cameron as prime minister.

By promising to give local authorities the power to set their own business taxes in a speech to the Conservative Party conference in Manchester, northwest England, the chancellor of the exchequer reversed a decades-old Tory policy. The move is an extension of his promise to build a “Northern Powerhouse” -- credited with boosting Tory support in traditional Labour heartlands in May’s unexpected election victory.