Treasury written question – answered at on 24 February 2014.
Michael Connarty
Labour, Linlithgow and East Falkirk
To ask the Chancellor of the exchequer how much the Barnett consequential for Scotland from the expenditure of £600 million on the Northern Hub rail upgrades will be.
Danny Alexander
The Chief Secretary to the Treasury
The Barnett formula is only applicable to changes in the departmental expenditure limits of UK Government Departments. Network Rail's funding is derived from several sources, including the Transport departmental expenditure limit. It is not possible to attribute Barnett consequentials to individual projects.
Yes1 person thinks so
No1 person thinks not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
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.
