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The Budget

I am happy to tell the hon. Gentleman that, yes, he is wrong. The then shadow Chancellor—he is now the Chancellor of the Exchequer—always said, ““Let’s see the data and look at it.”” The Holtham report was an important submission and the response from the Treasury has been exceptionally positive, which shows that our party is pragmatic and prepared to look at the case as it stands. I am optimistic that a settlement that will properly reward all parts of the United Kingdom can be found. If we are to make the fundamental change to Barnett that many parliamentarians would like, it can be done only on a UK basis. Scotland therefore needs to come on board, and the Scottish National party—the sister party of Plaid Cymru—needs to accept that. Plaid Cymru Members need to lobby their hon. Friends in the SNP to recognise the block that they are creating to delivering a fair funding settlement for Wales. We need a balanced approach that recognises what is stopping progress. Despite the actions of the Scottish nationalists, with the support of Plaid Cymru, we have a Treasury and a Chancellor who are prepared to look at the formula based on the data that have been provided, of which Holtham is an important part.