Dave, if you are going to be Chancellor of the Duchy of Lancaster I would have expected you to be working on maximising it's income.

I realise you are likely to embezzle at least 50% but that's fine. Even on present "reported" income we'll each get £8 million apiece. However that's less than a 3% return from total assets in excess £472 million.

Even accounting for someone already taking a rake-off I'm sure you could do better.

I have some ideas about the running of the estate and I would like to see reductions in the costs of those Lancashire holdings, you can make that up by increasing rent to those holdings in Cheshire and London, especially the Savoy Estate, you can make them weep if you want.

Over to you my friend.