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Crown Estate

Treasury written question – answered on 9th April 2003.

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Photo of Alistair Carmichael Alistair Carmichael Shadow Spokesperson (Energy and Climate Change), Liberal Democrat Spokesperson (Energy and Climate Change)

To ask the Chancellor of the Exchequer pursuant to his Answer of 31 March, Official Report, column 560W, on the Crown Estate, what assessment has been made of the impact of Crown Estate charges levied for use of the seabed on those who pay it.

Photo of Mr Paul Boateng Mr Paul Boateng Chief Secretary, HM Treasury, The Chief Secretary to the Treasury

Rents charged by The Crown Estate for use of the seabed are established by professional valuers in negotiation with users and where appropriate involve consultation with the relevant industry or interest groups. The rents are set at levels appropriate to the market conditions and must not take advantage of any monopoly interest. Any tenant may have the level of rent independently evaluated by the Valuation Office.

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