Jo Stevens

Jo Stevens

Labour — Cardiff East

Speaking in the House of Commons on 11 June 2025

Debate

Devolution: Crown Estate

Contribution

My hon. Friend is absolutely right. If we were to devolve the Crown Estate and introduce a new entity, that would risk market fragmentation, complicate existing processes, and delay further development offshore, jeopardising those jobs and that investment. Even if it could be done without risking the revenues, that would not automatically lead to more money for the Welsh Government, because any revenues they retained would likely be offset through reductions to the block grant, as is the case in Scotland. Meanwhile, Wales would no longer benefit from Crown Estate assets and profits in England.

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