As per a Treasury review of royal funding, the UK government is set to raise King Charles and the royal family’s grant by 45% to £125m ($172m) in 2025. Consequently, UK taxpayers will bear the increased cost, with the royal family’s funding increasing from £86m to £125m.
On Thursday the Treasury published a review of royal funding, showing how the monarchy’s annual budget, known as the sovereign grant, is linked to the profits from a national property portfolio called the crown estate.
The Treasury tried to spin the review as a pay cut for King Charles III. He said that some of the crown estate funds would go to public services instead. But the report shows that the monarchy will get a huge pay rise. Although it will be delayed for two years.
Next year, the sovereign grant will stay at £86.3m. But in 2025, it will go up by £38.5m, giving the monarchy £124.8m a year. In 2026, it will be £126m.
Also Read: किंग कोहली का दिखा विराट अवतार
Buckingham Palace and the Treasury did not deny that the sovereign grant was set to rise significantly.
Lord Turnbull, a former cabinet secretary who was involved in official talks over royal financing, accused the Treasury of hiding how the monarchy was funded.
He said that tying the royal finances to the crown estate profits was “silly”. It was meant to create the impression that the king was self-funding and reducing the taxpayer’s burden.
Also Read: Custom instructions provided for ChatGPT allow for unique prompts, reducing repetitive usage