Wales: Barnett Formula

Debate between Lord Richard and Lord Sassoon

Wednesday 20th June 2012 Lords Chamber

[Lord Sassoon]

My Lords, one difficulty is that there is no consensus on the appropriate way in which to measure needs for any replacement. As the previous Government said in response to the Select Committee report,

“the Barnett formula has a number of strengths, among them the merit of allowing the devolved administrations to determine their own assessment of needs and priorities in devolved areas”.

[Lord Richard]

My Lords—

--- Later in debate ---

[Lord Richard]

My Lords, I am obliged to the Leader of the House. The Minister says that there is no consensus in the United Kingdom about the Barnett formula, but there is a great deal of consensus that it does not operate fairly. The Select Committee was unanimous in that opinion, taking a great deal of evidence on it and coming to that conclusion. For the Minister to come along parroting, as he does every time the issue is raised, that we cannot do it now because of the deficit, is frankly unworthy of the subject. It is totally dismissive of the decision that the Select Committee took.

Is it not also true that there is a perfectly practical alternative to the existing Barnett formula to which the noble Lord, Lord Forsyth, referred—a needs-based formula? The Select Committee was set up to look precisely at this issue, which it did, and now it is time that the Government did.

[Lord Sassoon]

I simply refer the noble Lord, Lord Richard, to my first Answer.

EU: Economic Governance

Debate between Lord Richard and Lord Sassoon

Wednesday 27th October 2010 Lords Chamber

[Lord Richard]

My Lords, did I hear the Minister saying that the Government would consider changes to the treaty that did not involve a transfer of sovereignty from this country to the EU? Did he say that? If he did, what are the implications of that for the Prime Minister’s commitment that there would be a referendum on the Lisbon treaty if there were any changes to it? There is a distinction between any changes to the treaty and changes that transfer sovereignty from Britain to the EU. Which is it?

[Lord Sassoon]

My Lords, there will be a referendum on all proposed treaty changes that would transfer competence to Brussels. In terms of whether we look at treaty changes, if any treaty changes come forward and are proposed at the council tomorrow or at any other time, the UK Government will of course look at them and consider whether they propose to move competences. Depending on which category they fall into, we will act accordingly.

Financial Services Regulation

Debate between Lord Richard and Lord Sassoon

Wednesday 16th June 2010 Lords Chamber

[Lord Sassoon]

I am grateful to my noble friend Lady Noakes for reminding us that all this has gone on for far too long and that the 13 years compares ill with the few days in which the Chancellor of the Exchequer has gripped the problem. I shall certainly relay her remarks on to my right honourable friend. I am also pleased to confirm what my noble friend said about the governance of the Bank.

[Lord Richard]

My Lords, perhaps I may ask the Minister what I hope is a severely practical question: can he do all this without primary legislation?

[Lord Sassoon]

My Lords, I am grateful for the noble Lord’s question but we should come back to the issue of institutional arrangements once my honourable friend the Financial Secretary has made his Statement tomorrow.

[Lord Richard]

With respect, I am not talking about institutional arrangements. The noble Lord has set out the structure that the Government wish to introduce: can they do so without primary legislation? It is a simple point.

[Lord Sassoon]

We will put in place as soon as possible an interim financial policy committee. Whether we need legislation and what the nature of that legislation is rather critically depends on the institutional arrangements we are going to put in place. That is something we will come back to when I repeat, no doubt, my right honourable friend’s Statement tomorrow.