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Plaid Cymru says Wales will continue to lose out after the Prime Minister told MPs that there is no reform 'on the horizon' for the Barnett Formula, which limits any change in the funding that the UK Treasury gives to the Welsh Government.
The Prime Minister has told MPs that change to the way that Wales is funded isn't 'on the horizon.' David Cameron said that the current arrangements will become less important as the Welsh Government gets more control over raising its own finances through taxes.
He was being questioned about the next steps for devolution by the chairs of committees in the House of Commons. Monmouth MP, David TC Davies, who chairs the Welsh Affairs committee, asked him if the so-called Barnett Formula will be scrapped.
You can see the Prime Minister's answer in the video below:
Welsh Secretary Stephen Crabb said the coming months provide a 'unique opportunity to reshape the future' of the United Kingdom. He told an event organised by the Institute of Welsh Affairs that the pressure for change is irresistible.
Welsh Secretary Stephen Crabb says he intends to publish a 'blueprint' for the next stages of devolution by Saint David's Day 2015. Speaking at an event in Cardiff organised by the Institute of Welsh Affairs, Mr Crabb said that cross-party talks he's holding are aimed at reaching an agreement on the way forward.
Latest ITV News reports
Welsh Secretary Stephen Crabb will set out his 'vision' for the next stages of devolution in Wales in a speech in Cardiff