The £350 million is to be spread over ten years. To put this into context, the Government spends about £780 billion every year, including about £142 billion on the NHS. So you can see that it is unrealistic to suggest, as some commenters have, that further postponing the work would be a solution to NHS funding.
In addition, the Crown Estates is a collection of lands and holdings in Britain, that belong to the British sovereign, but which is neither government property nor the monarch’s private estate. The revenues of the Crown Estate now go directly to the Treasury, and around 15% is returned to the estates. Last year, the estates sent a record £304 million to the Treasury. You can find more details on www.gov.uk and www.thecrownestate.co.uk.
By Patrick McLoughlin on December 01, 2016