COASTAL counties such as Ceredigion and Pembrokeshire would enjoy huge financial benefits from the devolving of The Crown Estate.

That was the message to emerge from an online meeting set up last week to discuss what campaigners say has become ‘a burning issue’ in recent years.

The event – which drew 230 people including actors and activists Michael Sheen and Jerome Flynn – was organised by grass roots campaigning group Siarter Cartrefi and chaired by local community catalyst and 4CG director Cris Tomos.

“A whole range of campaign organisations are working to promote this issue in advance of Westminster elections, reflecting the wider interest on this matter in Wales,” said a spokesperson afterwards.

“We need to make it clear to Westminster that there is a mandate in Wales for devolving The Crown Estate and we need to build momentum around this issue in the coming months.”

Local county councillor Cllr Clive Davies said the value of The Estate in Wales was over £850,000,000 with income generated on and off shore split 25 per cent to the Sovereign and 75 per cent to the UK’s central Government.

“A wealth fund for Wales could do so much,” he added. “Scotland had this devolved seven years years ago.”

The issue has drawn strong cross party support - both Plaid Cymru MP Liz Saville Roberts and Welsh Labour’s Beth Winter shared their thoughts and vision for the devolved Crown Estate at the meeting while Michael Sheen gave a powerful message.

The Crown Estate manages land, other property and assets rights across the UK.

Rights are auctioned in the form of licences – currently the most lucrative of these rights are for offshore wind farms, where The Crown Estate owns the rights to the seabed.

Between 2020 and 2021, The Crown Estate in Wales saw the value of its holdings increase from £49.2 million to £549.1 million, currently valued at £603 million.

Siarter Cartrefi say this is likely to increase further over the coming years with one estimate placing the gross asset value in excess of £900m.

“Meanwhile, income and profits from The Crown Estate generate huge sums – money which leaves Wales,” they say.

Another meeting is planned for Thursday, February 22, to help the campaign move forward.