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1134950
registered interest false more like this
date less than 2019-06-26more like thismore than 2019-06-26
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Sovereign Grant more like this
house id 1 remove filter
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what estimate he has made of the revenue forgone to the public purse from the recalculation of the Sovereign-Grant from 15 per cent to 25 per cent of the Crown Estate profits for the financial years 2017-18 to 2027-28. more like this
tabling member constituency Cardiff Central remove filter
tabling member printed
Jo Stevens more like this
uin 269792 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-01more like thismore than 2019-07-01
answer text <p>As set out in the Sovereign Grant Act 2011, the Sovereign Grant is set by reference to the revenue of The Crown Estate. In exchange for the Sovereign Grant, The Queen surrenders the revenue from The Crown Estate to the government, which in 2018-19 was £343.5 million, and over the last ten years has resulted in an over £2.8 billion contribution to supporting our vital public services. The Sovereign Grant for 2019-20 is £82.4 million.</p><p> </p><p>Under Section 8 of the Sovereign Grant Act, HM Treasury can vary by order the percentage for the Sovereign Grant where the Royal Trustees consider that the current percentage is not appropriate. Following the 2016 Report of the Royal Trustees on the Sovereign Grant Review, in 2017 the percentage was increased from 15% to 25% in order to enable substantial works to reservice Buckingham Palace, to ensure that the Palace can continue to be able to support the Sovereign in the performance of Her official duties. This report set out in detail that Buckingham Palace’s infrastructure urgently needed a major overhaul to avoid the very real danger of catastrophic failure leading to fire or flood. The reservicing will be a ten year programme, at a total cost of £369 million.</p><p> </p><p>The report is available on the gov.uk website at:</p><p>https://www.gov.uk/government/publications/report-of-the-royal-trustees-on-the-sovereign-grant-review-2016</p>
answering member constituency Newark remove filter
answering member printed Robert Jenrick more like this
question first answered
less than 2019-07-01T14:12:37.38Zmore like thismore than 2019-07-01T14:12:37.38Z
answering member
4320
label Biography information for Robert Jenrick more like this
tabling member
4425
label Biography information for Jo Stevens more like this