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Pledge to keep Barnett formula branded unfair for Wales Pledge to keep Barnett formula branded unfair for Wales
(35 minutes later)
A pledge by the three Westminster leaders to keep the funding system for Scotland, Wales and Northern Ireland has been criticised by a Welsh MEP.A pledge by the three Westminster leaders to keep the funding system for Scotland, Wales and Northern Ireland has been criticised by a Welsh MEP.
A letter from David Cameron, Ed Miliband and Nick Clegg in a Scottish newspaper pledged to retain the formula in the event of a no vote.A letter from David Cameron, Ed Miliband and Nick Clegg in a Scottish newspaper pledged to retain the formula in the event of a no vote.
Under the system, Scotland gets more spending per head than the UK average.Under the system, Scotland gets more spending per head than the UK average.
But Jill Evans said the Barnett formula - which determines how public cash is distributed - is unfair to Wales.But Jill Evans said the Barnett formula - which determines how public cash is distributed - is unfair to Wales.
"Wales loses out to the tune of £300m a year," said Plaid Cymru MEP Ms Evans, who is campaigning for a yes vote in Scotland."Wales loses out to the tune of £300m a year," said Plaid Cymru MEP Ms Evans, who is campaigning for a yes vote in Scotland.
The letter from the three party leaders which appeared the front page of the Scottish newspaper the Daily Record on Tuesday outlined the future of Scotland if there is a no vote in Thursday's referendum.The letter from the three party leaders which appeared the front page of the Scottish newspaper the Daily Record on Tuesday outlined the future of Scotland if there is a no vote in Thursday's referendum.
It promised "extensive new powers" for the Scottish Parliament "delivered by the process and to the timetable agreed" by the three parties.It promised "extensive new powers" for the Scottish Parliament "delivered by the process and to the timetable agreed" by the three parties.
The Barnett formula, was named after former Chief Secretary to the Treasury Lord Barnett, was devised in 1979 as a way of adjusting block grants to Scotland, Wales and Northern Ireland to spend on devolved policy areas, on the basis of population.The Barnett formula, was named after former Chief Secretary to the Treasury Lord Barnett, was devised in 1979 as a way of adjusting block grants to Scotland, Wales and Northern Ireland to spend on devolved policy areas, on the basis of population.
Previously, First Minister Carwyn Jones called for funding reforms, and in 2009 visiting professor at the Cardiff Business School Gerald Holtham headed a commission that prepared a report on the Barnett formula.Previously, First Minister Carwyn Jones called for funding reforms, and in 2009 visiting professor at the Cardiff Business School Gerald Holtham headed a commission that prepared a report on the Barnett formula.
The economist said underfunding could reach £8.5bn by 2019 and described the system as "arbitrary" and in "urgent need of reform".The economist said underfunding could reach £8.5bn by 2019 and described the system as "arbitrary" and in "urgent need of reform".
Prof Holtham told BBC Wales that people hoping to see the end of the Barnett Formula can "forget it".
He added: "One of the things the Welsh Government has been pressing for is a very small change to the Barnett Formula that wouldn't affect the Scots, so I suppose it's just about possible that they might get that, but the formula as a whole looks like it's going to be here for some time yet."