Thursday, 28 June 2018 04:49


The Crown Estate has announced increased income over the last year - making it clear that their cash grab at Fort Kinnaird was simply to swell Treasury coffers with no benefit to Scotland. 

The Fort Kinnaird retail park was sold off by the Crown Estate earlier this month for £167 million in a brazen cash grab by the Tory government. The Tories had previously refused to devolve the site to the Scottish Government, despite every other Crown Estate property in Scotland being devolved two years ago.
It has now emerged that the Crown Estate has made increased profits for the Treasury this year - and the profits themselves are larger than the entire value of Crown Estate Scotland's holdings, raising further questions over why the Fort Kinnaird site was not devolved, with it being crystal clear that the UK Crown Estate is more than wealthy enough to cope without stripping Scottish assets.
Commenting, SNP MSP Richard Lochhead said:
"The Crown Estate con gets even more outrageous as more details emerge.
"For the Crown Estate to announce increased profits for the last year, just weeks after selling off the most lucrative site in Scotland - two years after failing to devolve the site as it should have been - really rubs salt in the wounds.
"Make no mistake - Scotland has been swindled in this shady deal which is nothing short of asset stripping, and the Crown Estate's profits will only swell further next year when the Fort Kinnaird sale is taken into account.
"All proceeds from the sale of Fort Kinnaird should come to Scotland - the Tories cannot hold money hostage when it rightly belongs to Crown Estate Scotland.
"The £167 million would be transformational for Crown Estate Scotland. It's time the Tories ended this con and gave us the money we are owed."

'Offshore wind and London retail boosts Crown Estate income despite a "tough" year':

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