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Commenting on the release of the first report by the Holtham Commission, Kirsty Williams, leader of the Welsh Liberal Democrats, said:
"It's really good news to see that the ideas that the Welsh Liberal Democrats have been advocating for decades are becoming mainstream. We have long argued that the Barnett formula is not fit for purpose and needs to be replaced with a fairer system.
"This report demonstrates that people in Wales could lose out by up to £2,900 each in the next ten years and shows us how a "floor" could change this. The Westminster Government needs to act immediately.
"The move to a formula based on what Wales needs would allow us to do so much more for people who need it the most. This is a good start, and I am excited about the next report which will show how devolving some fiscal powers will help us serve the people of Wales."
NOTES:
1. The federal Liberal Democrat manifesto in 2005 promised to "divide up government funding fairly within the UK, so that the system is fair for the nations and regions according to their real needs." (p.18). It was the only major UK-wide manifesto to do so.
2. The Welsh Liberal Democrats submission to the Holtham Commission can be found here: http://welshlibdems.org.uk/documents/files/Fair%20funding%20for%20Wales.doc
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