Baroness Hollis of Heigham
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Wales: Barnett Formula
Baroness Hollis of Heigham Excerpts(12 years, 5 months ago)
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Lord Sassoon
Yes, indeed, I would agree with my noble friend that that should be the objective of any replacement for the formula.
Baroness Hollis of Heigham
My Lords, the Minister said that his priority was to seek to reduce the deficit. Given that under the Barnett formula, which has not stood the test of time, Scotland is over-funded by £4 billion at the expense of English taxpayers, would that £4 billion not be a useful contribution to the deficit—or is the Minister so casual about our finances?
Lord Sassoon
No, my Lords, the Treasury is not remotely casual about the national finances, and what the noble Baroness says about the Scottish funding situation might well be challenged by others in other devolved parts of the nation.