Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment her Department has made of the potential impact of ending the crown exemption for the Duchy of (a) Lancaster and (b) Cornwall on reducing the budget deficit.

The income from the Duchies of Lancaster and Cornwall forms part of the King’s and Prince of Wales’s private income. The tax treatment of that income is as set out in the in the Memorandum of Understanding on Royal Taxation, which can be found at: www.gov.uk/government/publications/memorandum-of-understanding-on-royal-taxation-2023