Wales: Additional Financial Resources - Question

Part of the debate – in the House of Lords at 3:07 pm on 18th January 2023.

Alert me about debates like this

Photo of Baroness Penn Baroness Penn The Parliamentary Secretary, HM Treasury 3:07 pm, 18th January 2023

My Lords, the fiscal framework between the UK and the Welsh Governments was agreed in 2016; that added a needs-based factor into the Barnett formula to ensure that Wales receives fair funding. It receives at least 15% more funding per person than the equivalent UK government spending in the rest of the UK. In fact, in the current spending review period, that additional amount is 20%.