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:
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