She added: “Scottish taxpayers will continue to fund a full and fair share of the Sovereign Grant, paid via the Consolidated Fund”.
Advertisement
NICOLA Sturgeon has said there are no plans by the SNP Government to cut the amount Scotland contributes to funding the Royal Family. Profits on the Crown Estate are given to the Treasury, 15% is then passed back to the Queen two years later. He also commented that the proposal would be for the transfer of assets from April 1 2016.
The deal – the largest acquisition in its 255-year history – helped the Crown Estate diversify its portfolio and reduce its reliance on London’s West End, where it owns most of its assets.
He said any drop in funding from Scotland wouldn’t have any impact on the number of royal engagements in – or the monarchy’s relationship with – Scotland, where the Queen spends much of her summer in Balmoral. The Prince of Wales is also in Scotland this week, having arrived by Royal Train.
Figures released by Buckingham Palace show the monarchy cost the taxpayer £35.7 million for the second year running – the equivalent of 56p for each person in the country.
The story, which has been briefed to newspapers by a Buckingham Palace source, claims Scots will “grab the Queen’s cash” by keeping the Scottish government’s “contribution” to the royal revenue – the Scottish crown estate profits – which they say would amount to around £1.4 million.
The development pipeline includes the £320m St James’s Market leisure, retail and office project, in partnership with Oxford Properties of Canada.
While Sir
Alan Reid,
Keeper of the Privy Purse who is responsible for the Queen’s income and expenditure, was quoted saying: “With the Scottish transfer of assets, total Crown assets will fall“. “We will continue to work closely with the trustees to ensure that the funding for the Royal Household reflects that challenge”.
The revelation came on the day that it was disclosed the monarch is to receive another inflation-busting rise, of 6.7 per cent, next year.
The Crown Estate, an independent commercial business created by Act of Parliament and whose surpluses go to the Treasury, has just issued a report, announcing another record return for the benefit of the public finances; and an overall performance which is significantly ahead of the market, as its portfolio value hit an all-time high. So a 15% slice is around £42.8 million ($67.5 million).
The Crown Estate, the property company that generates income for Queen Elizabeth II, said the value of its real estate surged 17 per cent to a record £11 billion (RM64.91 billion).
Advertisement
