§ Mr. Gordon PrenticeTo ask the Prime Minister who owns the Crown Estate. [2242]
§ The Prime MinisterThe Crown Estate is held in right of the Crown, but its income forms the major part of the hereditary revenues of the Crown that have been surrendered to the Exchequer in return for the civil list by each monarch since 1760. The Crown Estate is managed by Commissioners under the Crown Estate Act 1961. Copies of the Commissioners' annual reports are available in the Library of the House.
§ Mr. PrenticeTo ask the Prime Minister what official valuation has been made of the Duchy of Cornwall estate. [2241]
§ The Prime MinisterInformation on certain of the Duchy of Cornwall's capital assets is shown in the annual accounts presented to Parliament. The accounts for 1994, presented on 7 June 1995, HC 464 record the net sum as £86,913,196. Assets such as the unique Isles of Scilla have been in the estate for centuries and are regarded as inalienable; these and other long-held assets are not reflected in the figure. By charter and statute, the capital assets cannot be eroded. The Duchy Management Acts 1863–1982 make the Treasury responsible for the capital to generate income for future Dukes.