Jim Eadie: Give us Crown Estate cash

This week the Crown Estate Commission announced record profits of £230.9 million. Despite its name the Crown Estate is not owned by the royal family, though it once was. George III handed the estate's land to parliament 250 years ago instead of paying his debts.

Today, Scotland's share of revenues from the estate, which has a property portfolio encompassing many of the UK's cityscapes, ancient forests, farms, parkland, coastline and communities, flow directly to the London Treasury.

The SNP wants to see control of the Crown Estate's Scottish functions devolved to the Scottish Parliament. As part of our plan to re-industrialise Scotland, we would invest the additional revenues in the development of the next generation of renewable technologies.

The legislation which currently governs the Crown Estate is outdated. New legislation is needed to make the Crown Estate Commissioners (CEC) accountable to the Scottish Parliament and to Scotland's people. It should be Scottish communities who benefit from Scotland's natural resources.

The Scottish Government has the lead role in exploiting Scotland's unique potential for renewable energy - including responsibility for economic development as well as both land-based and marine planning. Yet it is the CEC who grant leases for offshore projects. Because they are answerable to London, they are under no obligation to work in partnership with our economic development bodies.

Scotland's seabed and natural marine resources are a vital part of our economy. Transferring control from Westminster to Holyrood would allow us to realise the seabed's full economic potential, which in turn would help create hundreds of jobs in Edinburgh and thousands across Scotland as we make the transition to a low carbon economy.

• Jim Eadie is MSP for Edinburgh Southern