Baroness Foster of Aghadrumsee
Main Page: Baroness Foster of Aghadrumsee (Non-affiliated - Life peer)Department Debates - View all Baroness Foster of Aghadrumsee's debates with the HM Treasury
(3 weeks, 4 days ago)
Lords ChamberAs always, my noble friend says it far better than I could. I nearly always agree with him, and I do so on this point in particular.
My Lords, the Barnett formula was introduced for Scotland by a Labour Government in 1978; then it was applied to Wales and then to Northern Ireland. That is nearly 50 years ago. Surely it is time to look at a new mechanism that will reflect the modern devolved Administrations.
I give the noble Baroness the same answer that I have given already: I do not think the Government have any such plans. The Northern Ireland Executive settlement for 2025-26 is the largest in real terms of any Northern Ireland Executive settlement since devolution. The Northern Ireland Executive will receive £18.2 billion in 2025-26.