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The Chief Secretary to the Treasury, Liam Byrne MP, gives evidence to the House of Lords Committee on the Barnett Formula at 4pm.
The Committee are looking at the purpose, methodology and application of the Barnett Formula as a means of determining funding for the devolved administrations of the United Kingdom. They are also considering potential alternative mechanisms for distributing funding across the UK.
The Committee will ask Mr Byrne for the Treasury’s current position on the Barnett Formula, how the Formula is applied in practice and whether the Government still considers it to be a fair way of distributing funding to Scotland, Wales and Northern Ireland.
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