FUNDING FOR SCOTLAND AND THE BARNETT FORMULA

That this House regrets and disputes comments by the Mayor of London, Boris Johnson, suggesting that London subsidises Scotland; highlights the Scottish government GERS analysis showing that Scotland has been in surplus for the past three years while the UK economy as a whole has run a deficit; notes the recent House of Lord's Select Committee report on the Barnett formula which recognises that Scotland should receive its proper share of consequentials from Olympic regeneration in London; and believes that the best alternative to the Barnett formula is full fiscal autonomy, allowing Scotland to raise the money it spends.