An extract from Robert Peston's blog:
'The big question about the Prime Minister's plan to hand more control over taxes, spending and welfare to the four nations is how far this would end the subsidy of Scotland, Wales and Northern Ireland by England, and especially by London and the South East.
For all that it may sound attractive to the Scots, Welsh and Northern Irish to have greater influence over their respective economic destinies, presumably that would be less desirable if at a stroke they became poorer.
The point is that as and when there is an English Parliament for English people - of the sort that the former Tory minister John Redwood has been demanding, and David Cameron seemed to concede today - the financial transfer from England to the rest of the UK may be harder to sustain.'