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Proceeding contribution from Lord Higgins (Conservative) in the House of Lords on Tuesday, 5 July 2011. It occurred during Debates on delegated legislation on Distribution of Dormant Account Money (Apportionment) Order 2011.


Distribution of Dormant Account Money (Apportionment) Order 2011

My Lords, I should like to seek a little further clarification. I stress that I am, despite all its imperfections, in favour of the use of the Barnett formula for the allocation of funds between different parts of the United Kingdom. However, that does not solve the problem of which formula is being used to distribute the money, as against distributing it between the regions. I am anxious to save my noble friend unnecessary correspondence. Why, instead of the normal procedure being used—whereby the money for each of the regions goes into the Big Lottery Fund—is the money suddenly being siphoned off into the big society bank? Apparently this is not happening in the regions, although one would have thought that the big society was a UK-wide concept. Why do we suddenly find the allocation of resources—apparently contrary to the Act, although I might be wrong about that—being left to the big society bank, rather than to the existing arrangements set out in legislation? Alternatively, why is it not all going to the big society bank? How do the criteria for these two bodies differ?


Secondary information

Type
Proceeding contribution
Reference
729 c100GC 
Session
2010-12
Chamber / Committee
House of Lords Grand Committee
Subjects
Devolved matters Assets Bank services Finance Northern Ireland Public expenditure Scotland Wales Big Lottery Fund Big Society Capital
Legislation
Distribution of Dormant Account Money (Apportionment) Order 2011
Link
View this Proceeding contribution on www.publications.parliament.uk