Lord Richard
Main Page: Lord Richard (Labour - Life peer)Department Debates - View all Lord Richard's debates with the HM Treasury
(9 years, 3 months ago)
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Lord Newby
My Lords, in terms of what is happening on the ground in Wales, the level of expenditure which Holtham suggested would be appropriate if there was to be a fair allocation is actually being spent.
Lord Richard (Lab)
The Minister said that the Barnett formula is becoming less relevant to Scotland. That may be so, but does he recognise that it is deeply relevant to Wales? The committee of this House in relation to the Barnett formula, which I had the honour of chairing, was crystal clear: it is unfair. It should be changed, but the Government have set their face against that. I do not for the life of me understand why. It ought to be based on needs and not upon some mathematical formula being applied to a block grant system which has been out of date for 40 years.
Lord Newby
My Lords, I am well aware of the noble Lord’s views. The Secretary of State for Wales is considering the devolution settlement at the moment and is aiming to reach a cross-party agreement by 1 March.