00:00I rise today in support of new clause 4 and to express my party's frustration with the
00:10Government's refusal thus far to devolve the Crown Estate to Wales. It is the firm
00:15view of the Liberal Democrats, both here in Westminster and in the Senedd, that this decision
00:20is wrong for Wales and its economy. Under the current system, the profits generated
00:26from Wales' vast natural resources flow directly to the UK Treasury, offering no benefit
00:31to the communities where that wealth is created. The Crown Estate in Wales is set to generate
00:37millions per year annually from offshore wind energy leases in Welsh waters. If this money
00:43were kept within Wales, it could contribute an estimated additional £50 million to the
00:49Welsh Government's budget. At a time when public services in Wales are crumbling, it
00:56is nothing short of outrageous that the Labour Government in Westminster seek to deny Wales
01:01vital sources of income that could help address the crisis in our public services, economy
01:06and infrastructure. The Labour Government's refusal to devolve powers further, further
01:12entrenches the outrageous notion by Labour and the Conservatives that Wales is a lesser
01:17nation than Scotland. While Scotland has controlled its Crown Estate since 2017, Wales,
01:24despite having vast Crown Estate assets within its borders, has been left without these powers.
01:30The benefits of devolution for Scotland have been clear, with the Scottish Crown Estate
01:35generating over £103 million for public finances since 2017. The excuses that we have heard
01:43from the UK Government for failing to put Wales on an equal footing simply do not hold up.
01:49Patronising comments from Ministers that devolving the Crown Estate would not be in Wales'
01:55best interests or is a waste of time are, quite frankly, an insult to the people of Wales.
02:02This Government claim to support growth, but it seems determined to keep Wales from reaching
02:07its full potential. Instead of empowering Welsh communities to harness the benefits
02:12of their own resources, profits continue to flow directly to London. This is not the
02:18vision of growth that will benefit local communities or level up left-behind communities. It is
02:24a continuation of the Conservatives' failed economic model that prioritises centralisation
02:30and investment in the south-east of England over everything else. It would be a great
02:35mistake if those in power in Westminster were to deny Wales the opportunity to build a better
02:40future for our communities, and I hope the Government Benches will change their mind.
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