Part of Treasury – in the House of Commons at on 1 July 2025.
Darren Jones
The Chief Secretary to the Treasury
There are currently no plans to review the operation of the Barnett formula. The Barnett formula has stood the test of time because it is simple and efficient, and it provides a clear and certain outcome. It is a key part of the arrangements for pooling and sharing risks and resources across the United Kingdom.
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.
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.
