M
Member
Speaking in the House of Lords on 14 October 2024
Debate
Crown Estate Bill [HL]Contribution
There would also need to be agreement on how Welsh government funding through the Treasury block grant would change as a result of a new revenue stream coming to Wales from income from Crown assets. In Scotland, the adjustment to the Scottish Government block grant is set out in their fiscal framework agreed alongside the adjustment required to account for the devolution of tax powers. Presumably there would need to be a negotiated revised fiscal framework for Wales, and I accept that this will not be done right now, given the tremendous financial pressures that my right honourable friend the Chancellor is grappling with.
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