Currently, the cash goes to the Treasury in Whitehall and the money is then spent across the UK.

The Scottish government has control over the Crown Estate in Scotland.

Plaid Cymru MP Llinos Medi, who led the calls for the devolution in the House of Commons, told MPs that “the people of Wales should own and benefit from their own natural resources”.

“For much of Welsh history, this has not been the case, with resources often exploited for the benefit of others,” she said.

“From copper in Amlwch on Ynys Mon, slate in Gwynedd, steel in Port Talbot and Newport, to the coal across south-east valleys, the rivers of wealth which have flowed from these industries were sucked out of our communities, and those communities have since been ravaged by poverty.”

The Ynys Mon MP said the “millions of pounds generated on the Welsh Crown Estate is being taken out of Wales each year”, and added: “Why do the Scottish people get the benefits from their own water, wind and sea resources but the people of Wales can’t?”