Dormant Bank and Building Society Accounts Bill [HL]

I hear what the noble Lord says with regard to population, but I have indicated that the Government employ the Barnett formula with regard to its broad parameters of allocation. I also emphasis to the Committee, lest fertile minds think, ““Here’s the amendment that sits up for Report””, that the Government—all Governments—have resisted putting the Barnett formula into legislation. Of course it has elements of flexibility and the noble Lord, Lord Newby, is right to emphasise to me that if we enshrined population-based distribution in the legislation we would have real difficulties as to its flexibility. We are saying that, of course, for the Secretary of State the principle is backed by the Barnett formula, but the noble Lord is right: we will require greater flexibility than is being suggested by the amendments.