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The Crown Estate has defended itself in the wake of revelations that it misses affordable housing targets on its developments.
Research by the Bureau of Investigative Journalism last week showed the Crown Estate has repeatedly persuaded councils affordable housing would be too expensive and should be reduced in its schemes.
Paul Clark, director of investment and asset management at the Crown Estate, has now hit back at the criticisms.
He said: ‘House builders and private landowners (however historic) are not, ultimately, responsible for meeting the nation’s housing needs.’
Mr Clark accused commentators of ‘oversimplifying’ the debate on affordable housing.
He said: ‘Discussion here should not focus just on the percentages delivered by specific schemes; if we mobilise house building at scale, aspirational homeowners will benefit from an increased supply, helping to moderate price increases.
‘Suggesting we should be a social landlord is simply an incorrect interpretation of the legislation that established our business; the idea that “it’s as if time has stood still for Britain’s landed estates” could not be further from the truth.
‘After substantial modernisation over the last 10 years, our active approach to asset management is no longer akin to a traditional landed estate. What’s more, all our profits are paid to the Treasury and benefit the nation.’
The BIJ research looked at Crown Estate and Duchy of Cornwall plans to build 4,299 homes in 31 schemes. Of these 14 developments will fail to meet affordable homes targets, resulting in at least 213 fewer affordable homes being built.