How the Crown Estate raised funds in Scotland and bypassed devolution to invest the money in England to continue a practice going back decades before devolution

Hotel in Cheltenham

Posted last night in Facebook by Salvo, a link to this P&J article from June 2018:

The UK’s Crown Estate has been accused of a “cash grab” that could cost Moray assets a share of a £167 million windfall.

The agency has sold its multi-million stake in the Fort Kinnaird retail park in Edinburgh.

However, despite the estate’s assets north of the border being devolved to Crown Estate Scotland – the money will instead be funnelled to a retail park in Cheltenham.

Last night, Moray MSP Richard Lochhead branded the sale “a scandal” while the Auchenhalrig Farm on the Fochabers Estate, which is owned by Crown Estate Scotland, was being considered for sale to generate much-needed revenue.

The stake sold at Fort Kinnaird represents about 60% of the value of all crown assets in Scotland while it tries to raise £3.3 million for investment projects over the next two years.

Mr Lochhead said: “Even though Fort Kinnaird was an asset in Scotland, a technicality was found to make sure it was not devolved from the UK. They decided it was different solely for the reason that they wanted to cash in on it.

“It’s a bitter pill to swallow while Crown Estate Scotland is selling off its own assets in order to raise funds to invest.

“This windfall would have made a huge difference on sites across Scotland, including the Fochabers and Glenlivet estates and at Portgordon Harbour.”

Fort Kinnaird was the only Crown Estate site in Scotland not devolved when the agreement was finalised in 2016 despite pressure from the Scottish Government.

Full text at:

https://www.pressandjournal.co.uk/fp/news/moray/1504741/uk-crown-estate-accused-of-167-million-cash-grab-from-scottish-purse/?fbclid=IwY2xjawTMDpRleHRuA2FlbQIxMABicmlkETFvTFRPRXdjSFc2QkExeTc5c3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHv5VMrN9YnKXCbnxeRmyR8TrKC8U6LRuAyEEt5ZpsUHPy5nzwGKxkWm3n-Lk_aem_IiXQ4AHzIQMC37uj1Tm2Hg

Suggestions of a flow of Crown Estate funds raised in Scotland and invested in England are not new.

In 2006, Andy Wightman reported on a Crown Estate Review Working Group revealing that Scottish Crown Estate assets contributed net surplus revenue of around £65 million to the UK Treasury’s Consolidated Fund. Over 80% of Scottish revenues became net surplus for UK general expenditure. https://andywightman.scot/docs/CERWG-FinalReport12.06.pdf

Several House of Commons Treasury Select Committee inquiries revealed revenues flowing to Westminster. https://publications.parliament.uk/pa/cm200910/cmselect/cmtreasy/325/325i.pdf


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6 thoughts on “How the Crown Estate raised funds in Scotland and bypassed devolution to invest the money in England to continue a practice going back decades before devolution

  1. THE GOOD OLD BOYS. DIRK

    TURPIN RIDES INTO THE SCOTS OF ITS HISTORICAL

    ROBBING THE SCOTS OF THEIR HISTORIC IMONEY

    KNOWING THAT INDEPENDENCE WILL

    STOP ANY ASSET STRIPPING

    Liked by 2 people

  2. Strange how this thievery still comes as a surprise. I forget who said of the North American natives that their greatest downfall was that they couldn’t believe how greedy and rapacious the Europeans were. Treaties! Not worth the paper they’re written on.

    Liked by 5 people

  3. How do we rid Scotland of the Crown estate, turning it into The People’s Estate which a Scottish Government (of our choice) has access to and is used for common good.
    Take out the trash.
    Clear out the Crown.

    John Lawson

    Liked by 3 people

  4. The Royal family is ENGLISH.

    They are all born in ENGLAND.

    They all live in England.

    All the Royal titles are relevant ONLY to ENGLISH history.

    Lizzy the second. Prince of Wales. et al………..

    Born in 1949, when I was growing up, the Queen was the Queen of England.

    Charlie was the future King of England. They are ENGLISH!

    gavinochiltree

    Liked by 2 people

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