English
Français
Deutsch
Italiano
Português
Русский
Español
简体中文
हिन्दी
日本語
The U.K. government on Thursday said it would keep what’s called the sovereign grant to the monarchy flat.
The royals will get 86.3 million pounds ($111 million) for the 2024-25 fiscal year, with part of that going toward refurbishing Buckingham Palace. The Crown Estate — the public corporation tasked with managing a portfolio of land and property that belongs to the monarch — will have its proportion of profit sent to the monarchy cut to 12% from 25%, owing to a big boost from offshore wind developments. King Charles III had previously asked for the wind profits to be spent on the public.
“The new Sovereign Grant rate reflects the unexpected significant increase in The Crown Estate’s net profits from offshore wind developments, while providing enough funding for official business as well as essential property maintenance, including completing the ten year reservicing of Buckingham Palace,” said Chancellor Jeremy Hunt in a statement.
Read the full article here