Mark Pritchard

Mark Pritchard

Conservative — The Wrekin

Speaking in the House of Commons on 7 January 2025

Debate

Crown Estate Bill [Lords]

Contribution

I agree with my hon. Friend that the Crown Estate and Treasury’s framework agreement was ineffective, or that at least it could have been strengthened. The memorandum of understanding is in a similar vein. I therefore support him. Will he comment on this? I have concerns about the Bill. I agree with the general principle but there are potential fiscal and reputational hazards ahead for the Crown—not just the Crown Estate—if some of the investments go south. Also, at the moment there is a link between the Crown Estate and the sovereign grant. I think it is around 12%, as not all the income to the sovereign grant is derived from the Crown Estate. However, if the investments were to go wrong, who would be liable? If we have a weak MOU with no statutory oversight, it is more likely to go wrong.

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