Member

Finally, I will seek to address the concerns raised by the noble Baroness, Lady Vere, in respect of disposal of assets. The Government’s view is that imposing a limit on disposals would undermine the flexibility needed to enable the Crown Estate to operate commercially and meet its core duties under the Act. For example, there may be instances where it makes commercial sense to dispose of high-value assets, particularly when taking a longer-term view of the business and its strategy. However, I understand there may be concerns in respect of the Crown Estate’s ability to fundamentally change the nature of the estate. Under the 1961 Act, the Crown Estate is required to maintain an estate in land, and this fundamental basis is not altered by the Bill.