Funds formula 'should be scrapped'

Jul 17 2009

The system which sets public spending in Scotland, Wales and Northern Ireland has outlived its usefulness and should be scrapped, peers have said.

They said the Barnett Formula should instead be replaced by a system based on need.

Compared to England, Scotland now has "markedly lower" overall needs than Wales and Northern Ireland, and a new system should reflect it, they said.