Question to the HM Treasury:

To ask the Chancellor of the Exchequer, in light of the conclusion of Round 4 of Offshore Wind Leasing, if he will review the formula for the Crown Estate’s annual payments to the taxpayer from net revenue profits,.

Her Majesty The Queen surrenders the profits from The Crown Estate (which she owns as reigning Monarch) to the Government. As a result, over the last ten years, The Crown Estate has paid to HM Treasury £2.9 billion for the benefit of all taxpayers and invested in vital public services such as the NHS, transport, schools and defence.

In return for The Crown Estate’s revenue, the Government provides funding, known as the Sovereign Grant, for use by the Royal Household to support Her Majesty’s official duties.

The level of the Sovereign Grant is determined according to a formula set in the Sovereign Grant Act. As required by the Act, the reference percentage used for setting the Sovereign Grant is reviewed every five years to ensure it remains at an appropriate level. The next review will take place in the coming financial year, and any change will take effect from April 2022.