Coastline Crown Estate must be utilised to raise revenue for Assembly - McMullan
Sinn Fein MLA and spokesperson on Agriculture, Oliver McMullan, speaking ahead of a Sinn Féin motion in the Assembly on the issue, has called for the examination of the Crown Estate along the coastline of the north of Ireland with a view to realising the potential financial return for the Assembly.
Speaking ahead of the motion Oliver McMullan said:
“The Crown Estate controls the revenue raising possibilities of the coastline and marine habitat along the coast of the North of Ireland. The current value of this is £10.9m with an annual income of £1m each year, derived from pipelines, marinas, fisheries and cablings and other such marine enterprise goes straight into the British Treasury.
“It is Sinn Féin's view that bringing this power under Assembly control would be highly beneficial to the local economy.
“Not only would it bring the revenue of £1m a year directly into the local budget but could also stimulate further enterprise and investment along our shoreline.
“It would allow the Assembly to regulate any existing or new leases including our ports, marinas, cables, gas pipelines and local authorities, shellfish operations and the future asset of the sea bed around Rathlin Island, the electric interconnector, wind turbines and tidal turbines.
“Local councils could further be encouraged to explore the options for building new developments on our shores aiding the construction industry and stimulating local enterprise.
“I all this is an initiative that can realise the massive potential our unique shoreline contains and we would be remiss to ignore such an economic opportunity.”