Barnett Formula Debate
Full Debate: Read Full DebateDepartment: Department for International Development
Lord Anderson of Swansea
Main Page: Lord Anderson of Swansea (Labour - Life peer)Department Debates - View all Lord Anderson of Swansea's debates with the Department for International Development
Barnett Formula
Lord Anderson of Swansea Excerpts(7 years, 4 months ago)
Lords ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Lord Anderson of Swansea (Lab)
What advice will the Minister give us? What do we in Wales have to do to get an extra £1 billion? It would be extremely helpful to have that advice. For example, on the Swansea Bay lagoon, investors now say they are becoming wary of keeping their money on hold. Are the Government capable of making a decision?
Lord Bates
We are certainly always open. That is why we spend £120 in Wales for every £100 that we spend in England. We continue to be committed to that. It is why we increased the overall capital borrowing limit to £1 billion from £500 million, and we continue to look for opportunities to grow the economy in Wales, both within and outside the Barnett formula.