The House of Lords Committee on the Barnett Formula have today launched their Call for Evidence. The Committee will consider the Formula’s suitability as means of determining funding for the UK’s devolved administrations. They will examine its calculation mechanism and consider potential alternatives to the formula.
Lord Richard, Chairman of the Committee, said:
"The Barnett Formula has become increasingly controversial as a method of allocating funds to the UK’s regions since the devolution settlement of 1999.Full story HERE.
"It is time for a thorough exploration of the workings of the formula so we can have a better idea of whether it is still a suitable way for distributing public money. We will be looking in detail at many aspects of the formula from its impact on equity and fairness across the UK, to the management of the formula by the Treasury.
"We would welcome written evidence from anyone interested in this issue. We will be holding public evidence sessions with a broad range of witnesses over this Parliamentary session and aim to publish our report before the summer recess."
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