What Labor Does She Perform to Deserve This?
Queen's Income Set to Rise for Second Year Running
The Crown Estate owns lots of the UK. Why not own it all? And pay dividends to not just one person but to everybody? This 2013 excerpt is from the BBC, June 6.
by the BBCThe Queen will receive a 5% rise in her income after the Crown Estate, from which she is paid, reported an increase in its profits.
The Sovereign Grant, which funds the Queen's spending as Head of State, will rise in 2014 from £36.1m to £37.89m.
The grant is calculated as a percentage of profits from the Crown Estate, which includes properties such as Windsor Park and covers most UK coastline, much of it is leased out to third parties.
Aside from the Queen's income, the profit goes to the Treasury to help with the nation's finances.
The value of Crown Estate's property portfolio is now £8.1bn, exceeding £8bn for the first time.
While Crown Estate runs the properties owned by the Crown, it does not own the private property of the Queen.
The Crown Estate's urban portfolio, which includes large parts of London's West End, brought in a total return of 10.6% on assets that are now worth £5.9bn.
Outside of London, the Crown Estate owns 15 retail parks in various towns and cities, including Liverpool, Swansea, Slough and Nottingham.
It also owns shopping centres in Worcester, Oxford and Exeter as well as offices in Birmingham, Manchester and Cambridge.
Because it owns and manages the seabed around the UK out to the 12-mile limit, the Crown Estate is heavily involved in offshore wind farms, where it saw an extra 1GW of power come on stream, with around 300 new turbines erected offshore.
The Crown Estate also made £13.1m from cables and pipelines that cross its land.
It holds around 144,000 hectares (356,000 acres) of the country's agricultural land and forests, as well as residential and commercial property outside urban areas.
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JJS: Our phrase “real estate” comes from “regal estate”, in turn from “royal estate”, which means “the king’s landed property”. It's why returns to owners of resources are called "royalties". So if royalty -- now days government -- does own all land legally and individual owners just have titles granted to them for portions of the country, why not acknowledge the fact?
Government could recover the rents for all lands and resources and airwaves, etc ("royalties"). Seem farfetched? The British press does call for collecting land values, as in this New Statesman article of June 20: "Will anyone break the tax taboo?" By collecting the money it should collect, government could quit collecting the money it should not ever touch. It’d abolish all its taxes upon things that are not nature, such as our earnings, purchases, and buildings.
After covering a few operating expenses, government could disburse the rest of the recovered revenue not just to the head of state or today’s actual rulers -- the 1% -- but to everyone as a Citizens Dividend. No more economic injustice! Material security for all! To live better than bare comfort, that’s why one would work for wages and invest savings sagely. But as a society, we’d all benefit from land equally.
Editor Jeffery J. Smith runs the Forum on Geonomics and helped prepare a course for the UN on geonomics. To take the “Land Rights” course, click here .
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