MPs support proposals to give Crown Estate more investment and borrowing powers Proposals to give the Crown Estate more investment and borrowing powers have been supported in the Commons, after MPs were told the change will return more money to taxpayers and aid the transition to net zero.
Treasury minister Darren Jones said the Government will bring the outdated Crown Estate Act 1961 into the modern age, as he opened the Bill’s second reading.
He said: “The purpose of this Bill is to bring legislation governing the Crown Estate into the 21st century.
“The Crown Estate is a commercial business, independent from Government, that operates for profit and competes in the marketplace for investment.
The Crown Estate is an independent company which belongs to the monarch for the duration of their reign.
