[Diggers350] Queen to receive government ‘bailout’ to top up income after Crown Estate hit by economic slump

Alison Banville alisonbanville at yahoo.co.uk
Sun Sep 27 15:21:58 BST 2020

 Lord, I've unsubscribed multiple times, asked Gosling personally to unsubscribe me when the emails kept coming, to which he responded by telling me to click unsubscribe, and I've informed him I'm still getting these damn emails. He really seems to be lacking the basic integrity needed to run an email list. 
    On Saturday, 26 September 2020, 01:15:15 BST, Tony Gosling <tony at cultureshop.org.uk> wrote:  
Queen to receive government ‘bailout’ to top up income after CrownEstate hit by economicslump

‘This royal bailout will be tough to stomach for people wholove the Queen but have lost their jobs,’ says Tax JusticeUK
AdamForrest at adamtomforrest 1 day ago18 comments

BorisJohnson’s government has confirmed it will top up theQueen’s incomefollowing a significant slump in theCrownEstate’s revenue during the coronavirus crisis.  

The royal family takes in rental receipts from shops in London’s RegentStreet, alongside malls and retail parks around the country – but thevalue of its portfolio has fallen by more than £500m since the pandemichit.

The Treasurysaid it would provide the estate with extra money to meet any shortfallin profits and make sure the Queen’s sovereign grant remains at itscurrent level.

“In the event of a reduction in the Crown Estate’s profits, the sovereigngrant is set at the same level as the previous year,” a spokesperson saidtold The Independent.

“The revenue from the Crown Estate helps pay for our vital publicservices – over the last 10 years it has returned a total of £2.8bn tothe Exchequer. The sovereign grant funds the official business of themonarchy, and does not provide a private income to any member of theroyal family.”

More details on the next sovereign grant are expected to be set out onFriday – but legislation governing the formula prevents the overallamount given to the Queen from ever being allowed to fall.

Graham Smith, of the anti-monarchy campaign group Republic, described itas a “golden ratchet”, adding: “Once the grant goes up it can never comedown, and the taxpayer loses out.”

Robert Palmer, the head of Tax Justice UK, added: “This royal bailoutwill be tough to stomach for people who love the Queen but have losttheir jobs and businesses during the pandemic.”

Any profits made by the Crown Estate are passed to the Treasury which, inturn, hands 25 per cent of the profits back to the Queen through thesovereign grant.  

However, the Crown Estate announced last week a fall in the value of itsrental portfolio by £55m to £13.4bn – a drop of 1.2 per cent. 

An agreement with the Treasury means the estate has begun making“staggered” revenue payments to the government.

Dan Labbad, the Crown Estate’s chief executive, said: “The currenteconomic and market disruption has led us to take the precaution, withthe agreement of the Treasury, of implementing a staged process for thepayment of the whole of our net revenue profit.”

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'From South America, where payment must be made withsubtlety, the Bormann organization has made a substantial contribution.It has drawn many of the brightest Jewish businessmen into aparticipatory role in the development of many of its corporations, andmany of these Jews share their prosperity most generously with Israel. Iftheir proposals are sound, they are even provided with a speciallydispensed venture capital fund. I spoke with one Jewish businessmen inHartford, Connecticut. He had arrived there quite unknown several yearsbefore our conversation, but with Bormann money as his leverage. Today heis more than a millionaire, a quiet leader in the community with acertain share of his profits earmarked as always for his venture capitalbenefactors. This has taken place in many other instances across Americaand demonstrates how Bormann’s people operate in the contemporarycommercial world, in contrast to the fanciful nonsense with which Nazisare described in so much “literature.”

So much emphasis is placed on select Jewish participation in Bormanncompanies that when Adolf Eichmann was seized and taken to Tel Aviv tostand trial, it produced a shock wave in the Jewish and Germancommunities of Buenos Aires. Jewish leaders informed the Israeliauthorities in no uncertain terms that this must never happen againbecause a repetition would permanently rupture relations with the Germansof Latin America, as well as with the Bormann organization, and cut offthe flow of Jewish money to Israel. It never happened again, and thepursuit of Bormann quieted down at the request of these Jewish leaders.He is residing in an Argentinian safe haven, protected by the mostefficient German infrastructure in history as well as by all those whoseprosperity depends on his well-being.'


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