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Proceeding contribution from George Osborne (Conservative) in the House of Commons on Thursday, 14 July 2011. It occurred during Debate on bill and Committee of the Whole House (HC) on Sovereign Grant Bill.


Sovereign Grant Bill

I think I will leave it to the Deputy Prime Minister to update the House on that. It is one of the many benefits that come from being Deputy Prime Minister that he gets to conduct these important negotiations. [Interruption.] They are extremely important negotiations. The right hon. Member for Leicester East (Keith Vaz) makes a good point in reminding the House that this question involves a lot of other countries. That explains why something that people assume would be quite simple to deal with in the House of Commons is not. Let me talk about the actual numbers. How much is 15% of the Crown Estate profit, and how does it compare with what the royal family has spent in recent years on its official duties? In 2006, they spent £33 million; in 2007-08, they spent £35 million; and then £37 million and £34 million. The latest annual accounts, which were last week, showed that they spent £32 million. The amount varies a bit, because one-off capital projects are either undertaken or not in given years, but the average of the past five years is £34 million. It is interesting to note that it was £49 million 20 years ago, so the latest figure shows quite a dramatic reduction compared with what they used to spend. In real terms, the reduction is more than 50%.


Secondary information

Type
Proceeding contribution
Reference
531 c538 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Disclosure of information Conditions of employment Accountability Accountancy Crown lands and estates Crown Estate Finance Expenditure Historic buildings Minimum wage National Audit Office Travel Repairs and maintenance Royal family Royal household Sovereign grant Committee of Public Accounts
Legislation
Sovereign Grant Bill 2010-12
Link
View this Proceeding contribution on www.publications.parliament.uk