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King Charles’ first step in reforming the British monarchy was to cut the royal family’s income from the public purse.File pool photo by Andrew Boyers/EPA-EFE
January 19 (United Press International) — King Charles III announced on Thursday that he would return to British taxpayers $1.2 billion in revenue from producing green energy on royal lands, the first sign of his intention to restructure the monarchy, starting with state funding for the agency. The announcement comes as The Crown Estate launches six new offshore projects Wind Farm Energy Project It is expected to go live by the end of this decade. Projects on England’s east and west coasts are expected to generate 8 GW of electricity, enough to power seven million homes.
Unlike most royal families elsewhere in Europe, the British royal family receives money from the state, known as a sovereign grant, in exchange for their official jobs and constitutional roles. The grant is based on 25 per cent of Crown estate profits, which the royal family received $106.5 million last year.
Charles inherited from his mother, queen elizabeth two after her death In September, he was in his Christmas message He wants to ease the burden on British taxpayers amid a cost of living crisis, record high inflation and a cost of living crisis.
Repatriation of profits from wind farms would reduce this percentage so that the Treasury retains more of the profits for public spending.
“In light of the offshore energy windfall, the Administrator has written to the Prime Minister and Chancellor expressing the King’s wish that this windfall be used for the wider public good, rather than the Sovereign Appropriation, through appropriate cuts. In proportion of Crown estate surplus to fund sovereign appropriation,” Buckingham Palace said in a statement to UPI.
Anti-monarchists rejected the move, seeing it as a PR stunt designed to pre-empt the government’s decision to lower the percentage. Graham Smith, chief executive of the Republic Lobby, told bbc The king’s statement “reflects arrangements which he has no power to change”.
Under Britain’s constitutional monarchy, it is the royal trustees of the monarchy’s appropriations – the prime minister, chancellor and those who run the private treasury – not the monarch, who determine the percentage.
King Charles III on the British throne: A look back
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