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Treasury written question – answered on 19th April 2004.

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Photo of Michael Weir Michael Weir Shadow Spokesperson (Trade and Industry), Shadow Spokesperson (Environment, Food and Rural Affairs), Shadow Spokesperson (Health)

To ask the Chancellor of the Exchequer what process is used to determine the value of a wayleave charged by the Crown Estate to local authorities in respect of public works projects.

Photo of Ruth Kelly Ruth Kelly Financial Secretary, HM Treasury

holding answer 30 March 2004

The value of a wayleave is determined on a case-by-case basis through negotiation in accordance with professional valuation practice, with the respective local authority or its representative.

As is laid down in the The Crown Estate Act 1961, no account is taken of monopoly value when valuing any Crown Estate asset.

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