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Metronet: Finance

Volume 472: debated on Wednesday 27 February 2008

To ask the Chancellor of the Exchequer what the value of Barnett consequentials are for the £1.7 billion to be paid to Transport for London to cover the cost of the guarantee with respect to Metronet. (188308)

The Barnett formula applies to changes in the Department's overall DEL provision in the comprehensive spending review and produces block increases for the Welsh Assembly government, which it then allocates to programmes to reflect its own priorities. The Department for Transport has not received any additional provision beyond its CSR settlement in respect of the £1.7 billion for Transport for London.