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£3.9 billion - the price of Labour inaction on Barnett

August 4, 2010 12:00 AM

The Welsh Liberal Democrat Shadow Minister for Finance, Peter Black AM, has questioned First Minister Carwyn Jones' claims today around the Barnett Formula.

The First Minister is claiming that for every day the coalition fails to act on the Barnett formula it costs Wales £800,000.

"Carwyn Jones is being hypocritical. Labour did nothing to reform the Barnett Formula for the 13 years when they were in power both at Westminster and in Wales."

"If the First Minister would like us to use his calculations, Labour's inaction has cost Wales £3.9 billion since 1997.

"The 'Barnett formula' system of funding is widely discredited and delivers a poor deal for Wales. But it is Labour's formula - invented by Labour and sustained by successive Labour governments.

"The issue of Barnett review is separate to the debate on strengthening law making powers for Wales. It makes sense to review the funding formula with clarity about Wales' powers the new Government has acted swiftly to ensure a referendum on law making powers takes place as early as possible. The First Minister is risking the referendum by misleading the people of Wales.

"It is disingenuous of Carwyn Jones to suggest Wales can receive the full benefit of a Barnett review overnight. It is complete nonsense. Holtham himself has said it could take 10 to 14 years before Wales receives the full benefit of reform.

"The Liberal Democrats are now delivering on our 100 year old commitment to devolve real power from Westminster to the Welsh people and are looking forward to working constructively with progressives in all parties to secure a yes vote."

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