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In 2025, the British royal family will see plenty of green.
Sovereign funding to fund their activities will increase by more than $56 million in April, people magazine the report said. This would bring in a staggering $165 million.
The outlet noted that the Sovereign Grant is an amount paid by the British Treasury to the monarchy. Critics have described the pay rise as “shameful” as the UK government struggles to find funding for other budget lines.
The British monarchy will face increased scrutiny in the New Year as sovereign funding to fund its activities is set to increase significantly. (Getty Images)
A Buckingham Palace spokesman did not immediately respond to a request for comment from Fox News Digital.
“It’s widely believed that the funds will be used to restore Buckingham Palace, but in reality the royal family’s underlying private wealth could foot the bill,” royal expert Ian Pelham Turner told Fox Digital News.
“This is another nail in the coffin for the royal family… especially when many people have lost the winter fuel subsidies provided by the government. Many people have to decide whether to eat or stay warm in the winter.”
The renovation of Buckingham Palace is expected to be completed in 2027. (Pawel Libera/LightRocket via Getty Images)
People magazine noted that the price increase was announced last year. At the time, Buckingham Palace made it clear that most of the funds would be used for ongoing renovations costing $462 million. Repairs are expected to be completed in 2027.
However, Buckingham Palace did not specify how much the renovations would cost.
“This is public money,” Republic chief executive Graham Smith said. towns and villages. The organization “Movement to Abolish the Monarchy” According to its website.
“All this money comes from the government and the government can’t properly fund schools, hospitals, police… it’s disgraceful,” Smith said. “Not only should it not be going up, it should be going down.”
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King Charles III will be crowned in May 2023. (Getty Images)
British royal expert Hilary Fordwich stressed to Fox News Digital that the pay increase is not for King Charles III.
“Absolutely not,” she explained, noting that it funds all of Buckingham Palace’s working offices and their staff.
“Other expenses include state banquets, entertaining foreign heads of state, the maintenance of the palace for state purposes, the overall management of the royal family including all staff required for diplomatic functions, as well as garden parties to which the public is invited and the maintenance of royal properties.”
“Other funds are donated to their projects and charities for the public benefit,” she shared. “None of this has anything to do with King Charles III.”
British royal expert Hilary Fortewitch told Fox News Digital that the Buckingham Palace renovation project was initiated by Queen Elizabeth II. Britain’s longest-reigning monarch died in 2022 at the age of 96. (Sean Gallup/Getty Images)
Still, Pelham Turner said the pay rise didn’t bode well for the royal family after Charles and Prince William found themselves under attack last November.
The Sunday Times and a TV show called Kings, Princes and Their Secret Millionaires claim the king and his heirs are passing through their royal estates, the Duchy of Lancaster and the Duchy of Cornwall Make money quietly.
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King Charles and Prince William came under criticism last November following an investigation into their private estates. (Karwai Tang/WireImage via Getty Images)
An investigation said the private estate received millions of dollars in revenue from public institutions, including the National Health Service, state-funded schools and the British Armed Forces, the New York Post reported.
The Duchy of Lancaster is a private estate in England and Wales covering 44,748 acres, owned as a sovereign by the King.
“The Duchy of Lancaster manages a wide range of land and property assets,” a spokesperson explained to Fox News Digital.
Prince William is the heir to the British throne. (Mikolaj Barbanell/SOPA Images/LightRocket via Getty Images)
“It is self-funded and does not receive any public funding in relation to its activities,” the spokesperson said. “The annual report and accounts it publishes are independently audited and can be viewed on its website and comply with the regulations applicable to its business activities. scope of all relevant UK legislation and regulatory standards.”
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The Duchy of Cornwall is a private estate of nearly 130,000 acres in southwest England, owned by william as prince of wales. A spokesperson also highlighted his private status to Fox News Digital.
The spokesman said: “The Duchy of Cornwall is a private estate with commercial necessity and we achieve this by working to restore the natural environment and create a positive social impact for our communities.”
King Charles and Queen Camilla primarily reside at Clarence House. (Victoria Jones-WPA Pool/Getty Images)
“Prince William becomes Duke of Cornwall September 2022 and has since been working on a massive transformation of the principality. This includes significant investment to make the estate net zero by the end of 2032, providing targeted mental health support for our tenants and working with local partners to help tackle homelessness in Cornwall. “
Prince William and his family live at Adelaide Cottage in Windsor. (Jonathan Brady – Pool/Getty Images)
The Sunday Times claimed that a five-month investigation revealed that the duchy made money by “charging a range of commercial rents and feudal taxes on land seized mainly from medieval monarchs” from government departments, parliaments, businesses, mining companies and the public. Withdraw millions of dollars. “
People magazine notes that this arrangement is problematic because the royals are said to be operating as “commercial landlords” while benefiting from a special agreement that “exempts them from tax on their corporate profits.”
The republican movement has been critical of the funding of the Sovereign Grant and wants to abolish the British monarchy. (Paul Ellis/AFP via Getty Images)
Pelham Turner said: “A substantial increase in the sovereign appropriation would cause further public unrest…especially after the outrage of public opinion aroused by Charles and William’s duchy of Lancaster and Cornwall.”
Nonetheless, royal expert Richard Fitzwilliams points out that Buckingham Palace needs restoration. Fortewitch noted that the renovation project was initiated by Queen Elizabeth II, who died in 2022 at the age of 96.
Until March 2020, Buckingham Palace served as the Queen’s primary residence during her reign. At the time, she moved to Windsor Castle during the coronavirus pandemic. According to People magazine, the palace has been the official residence of the British monarch in London as early as 1837.
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Members of the British royal family attend the Trooping the Color parade on the balcony of Buckingham Palace. (Max Munby/Indigo/Getty Images)
“The refurbishment of Buckingham Palace is crucial because it is the most famous institutional headquarters in the world besides the White House, much of which is outdated and has not been refurbished in decades,” he explained. “Remarkably, It is a working palace with staff. It also attracts visitors with its ceremonies, such as the Changing of the Guard, and its grand processions with military parades, state visits, and the opening of Parliament.”
On November 22, 2022, Catherine, Princess of Wales, appeared at a state banquet held at Buckingham Palace in London. (Chris Jackson/Getty Images)
“Its refurbishment took 10 years and is on budget and on schedule,” continued Fitzwilliams. “Buckingham Palace is undoubtedly the headquarters of the monarchy. It will continue to be so. The refurbishment will continue until 2027… The Monarch The cost of the system is… cheap, in my opinion, at £1.29 per person, it’s the highest in the world – a showcase for the monarchy and Britain’s most prestigious soft power projection, it (also attracts) massive global media attention and. Lots of tourists.”
Queen Elizabeth II and former Prince Charles, Prince of Wales, attend the Opening of Parliament on October 14, 2019 in London. (Victoria Jones – WPA Pool/Getty Images)
According to People magazine, Charles, 76, is personally funding the renovation of his private suite at Buckingham Palace, which won’t be completed until 2027. A source previously told The Sunday Times that the monarchy was “mindful that the public purse should not pay for personal contact.”
Charles lives primarily at Clarence House, “just a short walk” from Buckingham Palace.
according to palace websiteThe building welcomes nearly 100,000 guests and attracts more than 15 million visitors annually. Its electrical wiring, plumbing and heating systems had not been updated since the 1950s.
A state banquet is held at Buckingham Palace. (Fox Photo/Getty Images)
“The building’s infrastructure is in urgent need of a complete overhaul to prevent long-term damage to the building and its contents,” the report states. “The most cost-effective way to replace these essential services and ensure the palace is fit for purpose for the next 50 years is to replace them within ten years.” A phased engineering plan will be implemented during the year.
“The scheme will deliver a range of long-term financial and environmental benefits and improve visitor access. During this period the palace will remain occupied and fully operational.”
