Barnett Formula

Lord Elystan-Morgan Excerpts

Monday 7th June 2010 Lords Chamber

[Lord Oakeshott of Seagrove Bay]

My Lords—

[Lord Elystan-Morgan]

My Lords—

[Lord Strathclyde]

My Lords, there is plenty of time for both noble Lords to speak. Let us hear from the noble Lord from the Cross Benches.

[Lord Elystan-Morgan]

My Lords, is it not the case that the whole economic and financial landscape has changed so fundamentally over the past 30 years that a rough and ready yardstick of calculation, as it was then, now becomes something utterly inequitable; and that if there is no radical change, parts of the United Kingdom, such as the land and nation of Wales, will suffer the perpetuation of this inequity? Is it therefore a matter not of waiting for events to happen but of radically tackling a massive injustice?

[Lord De Mauley]

My Lords, the Government hear what the noble Lord and other noble Lords say. However, while we recognise the concerns expressed by, for example, the Holtham commission, as I said, the priority must at the moment be to tackle the deficit.