My Lords, in moving Amendment 27 I will speak also to government Amendments 28 to 32 and 34. They relate to Clause 5 and the role for the devolved Governments in developing the Secretary of State’s strategic priorities for Great British Energy.

Clause 5 currently requires the Secretary of State to...

My Lords, in moving Amendment 27 I will speak also to government Amendments 28 to 32 and 34. They relate to Clause 5 and the role for the devolved Governments in developing the Secretary of State’s strategic priorities for Great British Energy.

Clause 5 currently requires the Secretary of State to...

Second reading. Agreed to on question. Bill committed to a Public Bill Committee. Programme motion on proceedings in Public Bill Committee, consideration, third reading and other proceedings. Agreed to on question. King's recommendation signified. Money resolution. Agreed to on question.

Second reading. Agreed to on question. Bill committed to a Public Bill Committee. Programme motion on proceedings in Public Bill Committee, consideration, third reading and other proceedings. Agreed to on question. King's recommendation signified. Money resolution. Agreed to on question.

I beg to move, That the Bill be now read a Second time. May I commend my hon. Friend the Member for Gloucester (Alex McIntyre) on his moving ten-minute rule Bill, which he just presented?

The purpose of the Crown Estate Bill is to bring legislation governing the Crown Estate into...

I beg to move, That the Bill be now read a Second time. May I commend my hon. Friend the Member for Gloucester (Alex McIntyre) on his moving ten-minute rule Bill, which he just presented?

The purpose of the Crown Estate Bill is to bring legislation governing the Crown Estate into...

I hope the Minister will not hear much disagreement about the points he is making so eloquently. However, may I query why these provisions and powers, which he believes are relevant for the Crown Estate in England and Wales, are not also being provided to the Crown Estate in Scotland?

I hope the Minister will not hear much disagreement about the points he is making so eloquently. However, may I query why these provisions and powers, which he believes are relevant for the Crown Estate in England and Wales, are not also being provided to the Crown Estate in Scotland?

As the right hon. Gentleman knows, Crown Estate Scotland is a separate organisation to the Crown Estate that is the subject of the Bill. Of course, we continue to have conversations and we will be pleased to talk to him and others about that issue for the future.

As the right hon. Gentleman knows, Crown Estate Scotland is a separate organisation to the Crown Estate that is the subject of the Bill. Of course, we continue to have conversations and we will be pleased to talk to him and others about that issue for the future.

On that point, will the Minister give way?

On that point, will the Minister give way?

I will make some progress.

The second objective of the Bill is to enable the Crown Estate to invest in capital-intensive projects more effectively. It does so by empowering the Crown Estate to reduce the size of the cash reserves it needs to hold, thereby expanding its ability to use its...

I will make some progress.

The second objective of the Bill is to enable the Crown Estate to invest in capital-intensive projects more effectively. It does so by empowering the Crown Estate to reduce the size of the cash reserves it needs to hold, thereby expanding its ability to use its...

Let us be clear that this is a huge departure for the Crown Estate. The Bill basically allows it to go to the City and to raise capital based on its assets, most of which, as the Minister highlights, are property. As he knows, the sponsor Government Department for the...

Let us be clear that this is a huge departure for the Crown Estate. The Bill basically allows it to go to the City and to raise capital based on its assets, most of which, as the Minister highlights, are property. As he knows, the sponsor Government Department for the...

I will come to a number of those points later in my speech. If I have not answered the right hon. Gentleman’s points as I get towards the end, I will take another intervention from him.

As a result of the changes in the Bill, the Crown Estate will be able...

I will come to a number of those points later in my speech. If I have not answered the right hon. Gentleman’s points as I get towards the end, I will take another intervention from him.

As a result of the changes in the Bill, the Crown Estate will be able...

Is there not a potential conflict of interest? The Minister mentions GB Energy, a new national organisation introduced by Labour Government policy. Because of the Crown Estate’s partnership with the Treasury, the Government are encouraging the Crown Estate to invest in GB Energy, but what if people out there do...

Is there not a potential conflict of interest? The Minister mentions GB Energy, a new national organisation introduced by Labour Government policy. Because of the Crown Estate’s partnership with the Treasury, the Government are encouraging the Crown Estate to invest in GB Energy, but what if people out there do...

The right hon. Gentleman is doing a brilliant job of anticipating sections in my speech. Once again, I will point at him when I come to the relevant section; in fact, it is the next section, so he is in luck.

There will be a memorandum of understanding in place between...

The right hon. Gentleman is doing a brilliant job of anticipating sections in my speech. Once again, I will point at him when I come to the relevant section; in fact, it is the next section, so he is in luck.

There will be a memorandum of understanding in place between...

That is a great question. I have no idea, so I will commit to writing to the right hon. Gentleman with an answer, if he will forgive me for not knowing.

That is a great question. I have no idea, so I will commit to writing to the right hon. Gentleman with an answer, if he will forgive me for not knowing.

Will the Minister give way?

Will the Minister give way?

Only if it is a question to which I know the answer.

Only if it is a question to which I know the answer.

I might be able to help a little with the question asked by the right hon. Member for Orkney and Shetland (Mr Carmichael). The Crown Estate has engaged in supporting the evidence and change programme that has brought the fishing industry and the renewables sector around the table to enable...

I might be able to help a little with the question asked by the right hon. Member for Orkney and Shetland (Mr Carmichael). The Crown Estate has engaged in supporting the evidence and change programme that has brought the fishing industry and the renewables sector around the table to enable...

I am grateful to my hon. Friend for her help, which I hope gives the right hon. Member for Orkney and Shetland (Mr Carmichael) some reassurance, as it sounds eminently sensible.

I am grateful to my hon. Friend for her help, which I hope gives the right hon. Member for Orkney and Shetland (Mr Carmichael) some reassurance, as it sounds eminently sensible.

Clause 3 covers this:

“The Commissioners must keep under review the impact of their activities on the achievement of sustainable development in the United Kingdom.”

This has been written into the Bill.

Clause 3 covers this:

“The Commissioners must keep under review the impact of their activities on the achievement of sustainable development in the United Kingdom.”

This has been written into the Bill.

I am continually grateful for the team effort, and I am grateful to my hon. Friends for having paid such close attention to the Bill.

I am continually grateful for the team effort, and I am grateful to my hon. Friends for having paid such close attention to the Bill.

I am aware of the duty to keep this under review, but that will surely be overridden, because the primary duty remains to maximise the return for the Crown Estate. I am quite happy for the Crown Estate to be both a licensor and an investor, although there is something...

I am aware of the duty to keep this under review, but that will surely be overridden, because the primary duty remains to maximise the return for the Crown Estate. I am quite happy for the Crown Estate to be both a licensor and an investor, although there is something...