Barnett Formula (Replacement) Bill

Part of the debate – in the House of Commons at 2:30 pm on 26 April 2024.

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Motion made, That the Bill be now read a Second time.

Barnett Formula

An economic mechanism used by the Treasury to adjust automatically the amounts of public expenditure allocated to Northern Ireland, Scotland and Wales, to reflect changes in spending levels allocated to public services in England, England and Wales or Great Britain as a whole.

See http://en.wikipedia.org/wiki/Barnett_formula