Civil List

Debate between Ed Balls and Oliver Heald

Thursday 30th June 2011 Commons Chamber

[Oliver Heald (North East Hertfordshire) (Con)]

I certainly support the comments of the right hon. Gentleman and the Chancellor. Is the right hon. Gentleman at all interested in asking for an assurance or some information on whether the proposals are likely to influence the investment strategy of the Crown Estate, and what that might involve? How much income or growth are required are often quite important parts of an estate’s strategy.

[Ed Balls]

The hon. Gentleman raises an important question. It is good that Parliament has an opportunity to scrutinise the proposals in the coming weeks or months. We are in an unusual situation. This debate is not a statement, so it is inappropriate for me to ask questions of the Chancellor today and expect him to respond. The debate is also on a Bill that we have not yet seen, which is obviously awkward. I am in a stronger position to ask detailed questions than everybody else, because I knew some of the content of the proposals in advance, but I do not know all the detail.

Today we are setting out questions and issues on which the Government might want to provide more detail between now and the debate on Second Reading. We will certainly expect more detail and debate then. I am sure that in reaching that deal over past months, the Chancellor and members of the royal household scrutinised the kind of issue that the hon. Gentleman raises. However, we need to find out the detail of that scrutiny, what analysis was looked at before that agreement was reached, and the impact of the proposals on a number of things. I mentioned security and the uprating formula, and the hon. Gentleman asks the very important question of whether the measures will enhance the Crown Estate or deter it from seeking to make new investments. I do not know the answer to that, but it is a good issue for debate.