Civil List

George Osborne Excerpts

Tuesday 5th July 2011 Ministerial Corrections

The following is an extract from the opening statement given during the debate on the Civil List by the Chancellor of the Exchequer, the right hon. Member for Tatton (Mr Osborne) on 30 June 2011.

[Mr George Osborne]

Let me now turn to some of the detail, recognising that in a fortnight’s time or so people will have had a chance to study the legislation and we will have a longer debate on Second Reading. First, we need a funding mechanism that prevents the sovereign coming to Parliament each year for resources, and that provides funding broadly in line with the growth of the economy. There is such a mechanism at hand, through the historical connection with the Crown Estate, so I propose that from 2013-14 the royal household receives 15% of the profits made by the Crown Estate in the two years prior. That is an average.

[Official Report, 30 June 2011, Vol. 530, c. 1146.]

Letter of correction from Mr George Osborne:

An error has been identified in the opening statement given on 30 June 2011. The correct answer should have been:

[Mr George Osborne]

Let me now turn to some of the detail, recognising that in a fortnight's time or so people will have had a chance to study the legislation and we will have a longer debate on Second Reading. First, we need a funding mechanism that prevents the sovereign coming to Parliament each year for resources, and that provides funding broadly in line with the growth of the economy. There is such a mechanism at hand, through the historical connection with the Crown Estate, so I propose that from 2013-14 the royal household receives the equivalent of 15% of the profits made by the Crown Estate in the year two years earlier.