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| Pledge to keep Barnett formula branded unfair for Wales | Pledge to keep Barnett formula branded unfair for Wales |
| (35 minutes later) | |
| A pledge by the three Westminster leaders to keep the funding system for Scotland, Wales and Northern Ireland has been criticised by a Welsh MEP. | A pledge by the three Westminster leaders to keep the funding system for Scotland, Wales and Northern Ireland has been criticised by a Welsh MEP. |
| A letter from David Cameron, Ed Miliband and Nick Clegg in a Scottish newspaper pledged to retain the formula in the event of a no vote. | A letter from David Cameron, Ed Miliband and Nick Clegg in a Scottish newspaper pledged to retain the formula in the event of a no vote. |
| Under the system, Scotland gets more spending per head than the UK average. | Under the system, Scotland gets more spending per head than the UK average. |
| But Jill Evans said the Barnett formula - which determines how public cash is distributed - is unfair to Wales. | But Jill Evans said the Barnett formula - which determines how public cash is distributed - is unfair to Wales. |
| "Wales loses out to the tune of £300m a year," said Plaid Cymru MEP Ms Evans, who is campaigning for a yes vote in Scotland. | "Wales loses out to the tune of £300m a year," said Plaid Cymru MEP Ms Evans, who is campaigning for a yes vote in Scotland. |
| The letter from the three party leaders, which appeared on the front page of the Scottish newspaper the Daily Record on Tuesday, outlined the future of Scotland if there is a no vote in Thursday's referendum. | |
| It promised "extensive new powers" for the Scottish Parliament "delivered by the process and to the timetable agreed" by the three parties. | It promised "extensive new powers" for the Scottish Parliament "delivered by the process and to the timetable agreed" by the three parties. |
| The Barnett formula, was named after former Chief Secretary to the Treasury Lord Barnett, was devised in 1979 as a way of adjusting block grants to Scotland, Wales and Northern Ireland to spend on devolved policy areas, on the basis of population. | The Barnett formula, was named after former Chief Secretary to the Treasury Lord Barnett, was devised in 1979 as a way of adjusting block grants to Scotland, Wales and Northern Ireland to spend on devolved policy areas, on the basis of population. |
| Previously, First Minister Carwyn Jones called for funding reforms, and in 2009 visiting professor at the Cardiff Business School Gerald Holtham headed a commission that prepared a report on the Barnett formula. | Previously, First Minister Carwyn Jones called for funding reforms, and in 2009 visiting professor at the Cardiff Business School Gerald Holtham headed a commission that prepared a report on the Barnett formula. |
| The economist said underfunding could reach £8.5bn by 2019 and described the system as "arbitrary" and in "urgent need of reform". | The economist said underfunding could reach £8.5bn by 2019 and described the system as "arbitrary" and in "urgent need of reform". |
| Prof Holtham told BBC Wales that people hoping to see the end of the Barnett Formula can "forget it". | Prof Holtham told BBC Wales that people hoping to see the end of the Barnett Formula can "forget it". |
| He added: "One of the things the Welsh Government has been pressing for is a very small change to the Barnett Formula that wouldn't affect the Scots, so I suppose it's just about possible that they might get that, but the formula as a whole looks like it's going to be here for some time yet. | He added: "One of the things the Welsh Government has been pressing for is a very small change to the Barnett Formula that wouldn't affect the Scots, so I suppose it's just about possible that they might get that, but the formula as a whole looks like it's going to be here for some time yet. |
| "No UK party has actually promised to reform Barnett, in fact they've generally said they wouldn't, so this really reaffirms their long-held position." | "No UK party has actually promised to reform Barnett, in fact they've generally said they wouldn't, so this really reaffirms their long-held position." |