Sir Geoffrey said that having “reflected” on the information provided, the committee had decided to launch an inquiry based on the information it had received from the Treasury and Crown Estate, as well as from the National Audit Office, which recently updated a report it produced in 2005 examining the Royal family’s leases.
The date of its first evidence session will be announced in due course.
Sir Geoffrey said: “We would like to thank the Crown Estate Commissioners and HM Treasury for their considered responses to our questions.
“In publishing these responses, the public accounts committee fulfils one of its primary purposes – to aid transparency in public interest information, as part of its overall mission to secure value for money for the taxpayer.
“Having reflected on what we have received, the information provided clearly forms the beginnings of a basis for an inquiry. The National Audit Office (NAO) supports the scrutiny function of this committee.
“We now await the conclusions the NAO will draw from this information, and plan to hold an inquiry based on the resulting evidence base in the new year.”
Dan Labbad, chief executive of the Crown Estate, said: “We very much welcome the news of the committee’s inquiry. We have provided detailed answers to the committee’s questions to date and look forward to working with the NAO and responding to further questions to support the inquiry process.”
The Crown Estate – a vast portfolio of land and property – belongs to the reigning monarch “in right of the Crown”, but it is not their private property.
It is run as an independent business, with profits paid directly to the Treasury. A proportion of the money, known as the Sovereign Grant, is then handed to the Royal family to support their official duties.
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‘ Some details of this article were extracted from the following source www.telegraph.co.uk ’
