Tuesday, 23 October 2007

I have an idea, about the Controversial Barnett Formula ....

The Facts About the Barnett Formula, taken from Wikipedia.

In actual monetary figures, that works out as (per person):

  • England £5,940
  • Scotland £7,346
  • Wales £6,901
  • Northern Ireland £7,945

As these regional variations were not ever a consciously decided policy of the Treasury or Parliament this has been cited as a reason for reform. However, as noted earlier these differences are eroded by time, and at current rates of growth in public expenditure they should disappear in thirty years.

It should be noted that the population of England is 80% of the population of the UK. Instant abolition of the Barnett Formula, based on the above figures would result on an average UK expenditure of approximately £6150. This would be a large decrease for each person in Scotland, Wales and Northern Ireland, but an increase of less than 4% per person for England.

Darkersideofbridgetjones solution:

Let Chingford have ago at this now. The people of Barnett have suffered enough and their residents could do with a rest. We should share the financial burden. I nominate Chingford. Well, it's a prosperous area in the South East, and the majority of the residents all have 'loads of money'. They also have a crest which the Scots can relate to - a stag.

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