Crown Estate assets should be returned to Assembly control - McMullan
Sinn Féin MLA Oliver McMullan has called for all monies raised from the Crown Estate to be handed over to the Assembly so that they can be managed for the benefit of all the people in the North.
Mr. McMullan said,
“All monies raised from the Crown estate in Scotland are returned to the Scottish Assembly to be used in Scotland. These additional monies have no impact on the block grant received by the Scottish Executive.
“This follows leader of the SNP Nicola Sturgeon call yesterday for Crown Estate monies to be used for projects on the Scottish isles.
“It is about time that similar action was taken by British Government in respect to the Crown Estate monies raised in the North.
“The entire Crown Estate is worth £9.9 billion which generates a annual profit of £280m and while the figures for the North are not available I am sure that it is well in access of the £1.5m returned to projects in the North.
“All monies raised through the Crown Estate in the North are removed to the British Exchequer and the Assembly has no control on how much is returned to the North.
“At present projects in the North are awarded around £1.5m from the Coastal Community Fund. This is far less than the sum that the Crown Estate lifts from claiming ownership of the Irish seabed.
“The Crown Estate own substantial properties, land and other rights including lifting rent from sea and river beds and all profits raised in the North should be made available to the Executive for use here.”