Barnett to go

Anthony Barnett (London, OK): I have just been sent a thoughtful warning for me not to answer my front door: “the new Prime Minister has sounded the death knell for the controversial Barnett formula”. Then I breathed again, it’s from the Scotland on Sunday and it refers to (no-relation) Joel Barnett’s historic arrangements for giving Scotland a fair deal, which has now created an alleged subsidy that is stoking English fury. It will suit Brown well with Daily Mail readers to treat the whole of the UK the same way financially. Alex Salmond says it is "just a euphemism for slashing Scottish spending" but after the pictures of Salmond next to the Queen waving to the crowds one can imagine Brown’s desire to wipe the smile of the face of the SNP leader. So now it's leaving us, what is the Barnett formula? And what is so wrong with it?