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Barnett formula
The Barnett formula is a mechanism used by Her Majesty's Treasury in the United Kingdom to adjust automatically some elements of public expenditure in Northern Ireland, Scotland and Wales to reflect decisions affecting other parts of the country. It was devised in the late 1970s by the then Chief Secretary to the Treasury, Joel Barnett, as a short-term solution to minor Cabinet disputes, though he later called for a review of its long-term application.
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