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Ex-FM calls for Crown Estate profit wealth fund
Western Mail
|September 30, 2025
WALES’ Finance Secretary has called for the creation of a sovereign wealth fund out of profits from the Crown Estate as pressure grows for the collection of assets to be devolved.
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Mark Drakeford said the fund would ensure Welsh people profit from offshore wind projects in the Celtic Sea.
‘The Crown Estate is a collection of marine and land assets and holdings that belong to the monarch.
It includes the seabed out to 12 nautical miles, which is around 65% of the Welsh foreshore and riverbed, and a number of ports and marinas. Ashore, the Crown Estate owns 50,000 acres of common land in Wales valued at more than £603m.
The Welsh Government and all 22 councils want the Crown Estate to be devolved to Wales, but the UK Government has refused on numerous occasions.
Denne historien er fra September 30, 2025-utgaven av Western Mail.
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