The Crown Estate welcomes proposals to modernise investment powers

The Crown Estate has today (Wednesday 17 July 2024) welcomed the government’s commitment in the King’s Speech to bring forward legislation to modernise its investment powers.

This includes the ability to borrow capital and invest more flexibility across its portfolio, in line with its strategy and core duties. These duties, as set out in the Crown Estate Act 1961, are to grow the value of the portfolio into the long-term and the income it returns to Treasury for the benefit of the nation’s finances. Over the last ten years, the portfolio has grown to £16 billion, with £3.2 billion returned to Treasury.

Dan Labbad, Chief Executive of The Crown Estate said: “We look forward to working with UK Government to bring forward this essential piece of legislation as soon as possible to modernise our investment powers. These powers will allow us to have an even greater impact across our portfolio and ensure we play our part in supporting the UK’s transition to a decarbonised, energy secure future; nature recovery; regeneration and economic growth; as well as increasing the profit we return to government for the benefit of the nation’s finances.”