Plaid Cymru renews calls for devolution of Crown Estate as it reports record profits

Plaid Cymru has renewed calls for the devolution of the Crown Estate to Wales following the announcement of record £1.1bn profits earlier today (24 July).

The Crown Estate said earnings surged by more than £658 million during the year ending March 31, from £443 million the previous year.

The spike in profits was mainly down to option fees, payments made by companies to reserve a patch of the seabed to eventually build their wind turbines on.