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

Salfordjc salfordjc at gmail.com
Mon Sep 28 10:58:32 BST 2020

Tony .....l enjoy your posts , l m mature enough to know that l may not
always agree with the views of all members however l do appreciate the
research and hard work you and your colleagues do..
John Catterall

On Mon, 28 Sep 2020 at 10:19, Gill Barron gill at ipaint.org.uk [Diggers350] <
Diggers350-noreply at yahoogroups.com> wrote:

> I agree with Shane — and I appreciate Tony's efforts in trawling the media
> so that I don't have to. These posts frequently shed an interesting
> side-light on current events. Mostly harmless — what's the fuss about?
> Gill
> On 27/09/2020 20:50, shane wrote:
> ooh i think that a bit too critical. Although i don't agree with every
> post i'm grateful for Tony's time and experience in finding things out
> and passing them on.
> The unsubscribe button not working surely does not equate to a 'lack of
> integrity.'
> Shane
> On 27/09/2020 19:17, Ian wrote:
> He's been running the list for a long time, so I suppose his lack of basic
> integrity is a lifelong
> thing.
> Ian
> On 27 Sep 2020 at 14:21, Alison Banville via Diggers35 wrote:
> 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 <tony at cultureshop..org.uk>>
> wrote:
> Queen to receive government
> `bailout´ to top up income after
> Crown Estate hit by economic slump
> https://www.independent.co.uk/news/uk/politics/queen-bailout-coronavirus-sovereign-grant-royal-f
> amily-b572508.html
> `This royal bailout will be tough to stomach for
> people who love the Queen but have lost their
> jobs,´ says Tax Justice UK
> Adam Forrest at adamtomforrest 1 day ago 18 comments
> Boris Johnson´s government has confirmed it will top up the Queen´s income
> following a
> significant slump in the Crown Estate´s revenue during the coronavirus
> crisis.
> The royal family takes in rental receipts from shops in London´s Regent
> Street, alongside malls
> and retail parks around the country - but the value of its portfolio has
> fallen by more than £500m
> since the pandemic hit.
> The Treasury said it would provide the estate with extra money to meet any
> shortfall in profits and
> make sure the Queen´s sovereign grant remains at its current level.
> "In the event of a reduction in the Crown Estate´s profits, the sovereign
> grant is set at the same
> level as the previous year," a spokesperson said told The Independent.
> "The revenue from the Crown Estate helps pay for our vital public services
> - over the last 10
> years it has returned a total of £2.8bn to the Exchequer. The sovereign
> grant funds the official
> business of the monarchy, and does not provide a private income to any
> member of the royal
> family."
> More details on the next sovereign grant are expected to be set out on
> Friday - but legislation
> governing the formula prevents the overall amount given to the Queen from
> ever being allowed to
> fall.
> Graham Smith, of the anti-monarchy campaign group Republic, described it
> as a "golden ratchet",
> adding: "Once the grant goes up it can never come down, and the taxpayer
> loses out."
> Robert Palmer, the head of Tax Justice UK, added: "This royal bailout will
> be tough to stomach for
> people who love the Queen but have lost their jobs and businesses during
> the pandemic."
> Any profits made by the Crown Estate are passed to the Treasury which, in
> turn, hands 25 per
> cent of the profits back to the Queen through the sovereign grant.
> However, the Crown Estate announced last week a fall in the value of its
> rental 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 current
> economic and market
> disruption has led us to take the precaution, with the agreement of the
> Treasury, of implementing
> a staged process for the payment of the whole of our net revenue profit."
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