King Charles and Prince William are said to be receiving millions of pounds from public institutions such as the NHS, state schools, and the armed forces. Image: AP
(The Post News)- The private estates of the King and the Prince of Wales reportedly make millions of pounds from rental agreements with the armed forces, the National Health Service (NHS), and state schools.
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A probe conducted by Channel 4’s Dispatches and The Sunday Times looked into the land and properties owned by the top two royals via the Duchies of Lancaster and Cornwall.
The Duchy of Lancaster consists of land, property, and assets throughout England and Wales that are held in trust for the Monarch. It consists of important city advancements, old structures, agricultural land, and beautiful natural areas, originating in the 14th century. Neither of the estates are subject to corporation tax or capital gains tax.
The Duchy of Lancaster reportedly signed a contract last year to house a new fleet of electric ambulances, belonging to Guy’s and St Thomas’ NHS Trust in London, in one of its warehouses, for a total of £11.4m over a span of 15 years.
The inquiry also reveals that the Duchy of Cornwall has billed the navy over £1m since 2004 for constructing and utilizing jetties and berthing warships along the Cornish coast. The probe also discovered that it will make approximately £600,000 through six separate leases with local state schools over their lifespan.
The duchy allegedly agreed to lease Dartmoor Prison to the Ministry of Justice for £37 million and made a deal with the Ministry of Defence for the armed forces to train on Dartmoor land. Further allegations from the inquiry, conducted in collaboration with The Mirror newspaper, suggest that private houses rented by both duchies do not meet the minimum energy efficiency standards.
A recent inquiry discovered that around 14% of properties leased by the Duchy of Cornwall and 13% by the Duchy of Lancaster have an F or G performance rating, despite it being against the law for landlords to rent out properties with ratings lower than E since 2020. However, the inquiry discovered King Charles is still set to earn a minimum of £28 million from wind turbines due to an ancient privilege allowing him to levy fees for cables passing through the Duchy of Lancaster’s property.
According to the estate’s published accounts in July, the King’s yearly earnings from the Duchy of Lancaster increased by 5% to £27.4m in 2023/24. The accounts revealed that the Prince of Wales was given over £23.6m as his annual private income from the Duchy of Cornwall. Both royals have volunteered to pay income tax even though they are not required to do so by law.
The revenues from the two duchies differ from the Sovereign Grant, which is funded by taxpayers and covers the monarch’s official duties. According to a spokesperson for the Duchy of Cornwall, the estate is private; it also emphasizes commercial activities and prioritizes the restoration of the natural environment and generating positive social impact in local communities.
Since September 2022, Prince William has taken on the role of Duke of Cornwall and has dedicated himself to a significant overhaul of the duchy. This involves a substantial financial commitment to achieve carbon neutrality for the property by 2032, as well as implementing specialized mental health assistance for our residents and collaborating with local organizations to address homelessness in Cornwall. Q
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