Property developments on Duchy of Cornwall land

[BoxingHare]

Outline planning permission has been given for 620 new homes to the south of Shepton Mallet, Somerset. This land is on Duchy land and the development is an enterprise between the Duchy and the developers. This and other developments will net the Duke of Cornwall considerable profit.

In 1760, when the monarch was allowed to hold onto management of the two Duchies they were near worthless. This has changed massively, and now the Duchy of Cornwall bankrolls William to the tune of over £20m a year.

The situation with the Duchy has been ambiguous to say the least. On the one hand it's run as a private enterprise, and profits go directly to whoever is PoW at the time. It describes itself as a private estate, and our government goes along with this. Although in the past (most recently the 1930s), the government has taken profits for State use, as it does actually belong to the State, and all profits could go to the State if it pressed for this.

William seems to be going hard on the maximisation of profits for himself and his family, and he's doing it with assets that don't belong to him. He's running the Duchy and taking everything for himself. Imagine of that instead went back into the public coffers.

I think it's time William was paid a salary for his management of the Duchy, but all profits need to return to the State and he can apply for another allowance if he likes. Considering the Crown Estates profits have meant that the Royal Family receive far in excess of what they used to, that application should be refused.

Different PAC I think @simpsonthecat - Edward Leigh was the chair for this one.

I think I saw some of that one too. If I remember correctly, Leigh got very frustrated.

Yes I know the bit in parentheses was your words.

So, in your own words, having said the Duchy isn't like any other private business because, unlike private businesses, it has Treasury overview, why are you so sure you are correct when you say "it is a private estate".

Many have said there is ambiguity in the way everything is worded, and others have said it's handy the Duchy is a private business where the profits are concerned but not when CGT etc. could be involved.

Another way it doesn't operate as a private business.

Because it isn't one, despite on the face of it, operating in a similar way sometimes.

I imagine they're fed up getting stonewalled all the time with statements that they've learned by rote and won't deviate from them to explain anything.

The CEO seems to have learnt his stuff (as per Blue's post), and just recites the official line.

No one seems to be able to penetrate that wall.

Which says to me and anyone with an investigative mindset that there's a lot to unravel if it were possible to do so.

Excuse my ignorance. I know there is a chronic housing crisis but we have an ageing population and the last of the boomers have turned 60 years old; and schools are closing because the population rates have dropped. So will there still be a housing crisis in twenty years time or will it have resolved naturally?

That’s very interesting!

I think you make a good point. There is a shortage now because too few houses have been built recently.

But yes, schools are closing and combining because there are far fewer pupils coming through.

And that will hit the housing market in years to come.

I think the Shepton Mallet development includes a school and a care home! The latter will probably need an extension one day, the former not so much.

The Duchy of Cornwall also owns a good chunk of Kennington in South London. Duchy tenants pay minimum rent. But in recent years they have housed some refugee families.