Lord Morgan
Main Page: Lord Morgan (Labour - Life peer)Department Debates - View all Lord Morgan's debates with the HM Treasury
(11 years, 2 months ago)
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Lord Newby
My Lords, as the noble Lord knows, the Barnett formula is much discussed. The Government are not planning to change the Barnett formula during the course of this Parliament. We are trying to find a more constructive way forward. The Secretary of State for Wales is working very closely with the First Minister of Wales, looking at a raft of specific measures—whether it is possible new borrowing powers for Wales or the business case for electrification of the north Wales railway—to bring about specific changes which, it is hoped, will boost growth in the medium to long term in Wales.
Lord Barnett
My Lords, the Barnett formula, which, sadly, bears my name, should have been changed a long time ago, as a powerful Select Committee of this House, chaired by my noble friend Lord Richard, and many other senior Members of the House have recommended. When is that recommendation going to be put into effect by the Government?