Commission on Devolution in Wales

Wayne David Excerpts

Monday 18th November 2013 Commons Chamber

[Mr Jones]

That is very unlikely.

[Wayne David (Caerphilly) (Lab)]

Wales is currently underfunded to the tune of £300 million. Why does the Secretary of State for Wales not come forward with a fair funding formula?

[Mr Jones]

The hon. Gentleman will know that in October 2012 the Welsh Finance Minister, the Chief Secretary to the Treasury and I announced new arrangements in Cardiff, which ensured that if there were any issue of convergence, there would be further negotiations between the Welsh Finance Department and the Treasury. [Interruption.] We believe that Barnett certainly is coming to the end of its life. The issue is to rebalance the economy, which was left in such an appalling condition by the Government of whom he was a member.