Lord Elystan-Morgan
Main Page: Lord Elystan-Morgan (Crossbench - Life peer)Department Debates - View all Lord Elystan-Morgan's debates with the HM Treasury
(9 years, 6 months ago)
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Lord Newby
My Lords, as I said in my initial Answer, we have agreed that we will revisit the arrangements for funding in Wales in advance of each spending review. We will do the next review next year in conjunction with the Welsh Government.
Lord Elystan-Morgan (CB)
Does the Minister recollect that our late splendid friend Lord Barnett often said that his formula was intended to be of only very short duration, and that he accepted, particularly in relation to Wales, that it was wholly inequitable for it to be perpetuated from year to year?
Lord Newby
Yes, my Lords, but the Barnett formula is the opposite of most government policies, which do not survive very long. His has survived a lot longer than anybody ever envisaged.