Oral Answers to Questions

Debate between Lord McLoughlin and David Linden

Wednesday 22nd November 2017 Commons Chamber

[David Linden (Glasgow East) (SNP)]

2. Whether an ethical investment policy is in place for the Queen’s private estate.

[The Chancellor of the Duchy of Lancaster (Sir Patrick McLoughlin)]

I congratulate Her Majesty the Queen, Duke of Lancaster, and His Royal Highness the Duke of Edinburgh on their platinum wedding anniversary, and I pay tribute to their decades of public service to our country.

Her Majesty voluntarily pays tax on all income received from the duchy. The duchy’s investment strategy is based on advice and recommendations from its investment consultants.

[David Linden]

One of the revelations we saw in the Paradise papers was an investment by the royal estate in the shambolic and exploitative company BrightHouse, which preys on and exploits many of my constituents. Does the Minister understand the absolute anger in Glasgow East at that revelation, and what is he going to do about it?

[Sir Patrick McLoughlin]

The investment in BrightHouse was made through a third party, equates to £3,208 and represents 0.0006% of the duchy’s value.