The government's levelling up agenda has been dealt another blow, as the Financial Conduct Authority turned down a chance to join the Treasury’s Darlington economic campus last year.

According to documents seen by Financial News, when it chose new office locations last year the FCA's analysis did not support creating a regional hub in Darlington. The Darlington campus, which opened in 2021, has been a key pillar of the Treasury’s bid to extend its influence beyond London and level up job opportunities.