Accusations against Rachel Reeves highlight a funding shortfall for the UK's devolved nations due to her use of the Barnett formula, leading to substantial financial gaps. Welsh, Scottish, and Northern Irish governments contend that their public sectors are now underfunded, resulting in a projected 14% budget cut. Key finance officials argue that this violates the UK's funding policy, which prohibits actions causing financial harm to constituent governments. Measures being taken include using reserves and addressing the shortfall through public sector cuts, exacerbated by rising costs in welfare and pay.
Mark Drakeford stated that the way Reeves has used the Barnett formula constitutes a violation of budgeting agreements, impacting public services in Wales.
The funding gaps faced by Welsh, Scottish, and Northern Irish governments could lead to significant cuts across public sectors, amounting to about 14%.
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