Labour MPs consider Royal 12% profit insufficient, demand more control

October 3, 2013

According to The Guardian:

Gareth Thomas, chair of the Co-op party’s group of 33 Labour MPs, said…“Modernising the rules governing the crown estate could, for example, allow it to invest in up-and-coming property markets… or in new technology businesses…”

The estate manages the £8.6bn of land and property that the crown owns, but which the Queen does not control and cannot sell. The estate is accountable to parliament, and pays its surplus income to the Treasury to offset the cost of maintaining the royal family.

Last year the estate generated a surplus of £253m from its investments after making an 11.9% annual return.

To read the entire article in The Guardian, please click here.

Windsor Castle. Photo by aparshah_18.

Windsor Castle. Photo by aparshah_18.

Print Friendly, PDF & Email
Share

Previous post:

Next post: