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King Charles wants to cede millions to the state

2023-01-19T15:23:02.264Z


Inflation, energy crisis: The British King Charles III. was recently concerned about the needs of the British population. Now he is putting words into action.


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King Charles III: giving up a lot of money

Photo: WPA Pool/Getty Images

Are these the first signs of a new, modern monarchy that so many people are hoping for?

The British King Charles III.

wants to pass on profits from leasing contracts for offshore wind farms to the general public.

This was announced by Buckingham Palace on Thursday.

Earlier, the company known as Crown Estate, which manages the Crown's real estate and land holdings of the same name, announced a deal for new offshore wind farms.

Specifically, it concerns six wind farms off the coast of North Wales, Cumbria and Lancashire and in the North Sea off the coast of Yorkshire and Lincolnshire.

The parks stand on the seabed that belongs to the »Crown Estate«, the real estate portfolio of the monarchy.

In the future, they will produce electricity for seven million households.

The German energy companies RWE and EnBW are also involved.

»Wish of the King«

The Crown Estate also manages Britain's rights to what is known as the continental shelf around the country's coastline.

Therefore, the conclusion of leasing contracts for the construction of offshore wind farms falls within the sphere of the company.

A Buckingham Palace spokesman said King Charles' Treasurer, the so-called Keeper of the Privy Purse, had written to the Prime Minister and Treasury Secretary "to share the King's wish".

The income from the leases should therefore not be used for the »Sovereign Grant«.

These are payments from the state that cover the running costs of the royal household and travel expenses.

It is typically based on 15 per cent of excess income from the Crown Estate, which includes some of London's most expensive properties.

The higher the income from the "Crown Estate", the more money the government gives to the royals.

According to the Times, the state is currently paying 25 percent into the grant to finance work on Buckingham Palace.

The Sovereign Grant was valued at £86.3m last year, and the property portfolio is expected to increase in value as offshore wind power becomes a key enabler in UK energy production.

In his first Christmas address, Charles pointed to the cost of living crisis

15 percent of the revenue from the wind farm deal, apparently worth one billion pounds, would also flow into the "Sovereign Grant".

But the king wants to pass on the money – probably many millions of pounds.

Charles, who became king in September after the death of his mother Elizabeth II, highlighted the cost of living crisis many Britons are grappling with in his first Christmas address to the nation.

The Times says Charles III.

wants to use the lavish donation to defend himself against the accusation that the royals are taking in more and more money while the population is suffering from the rising cost of living.

kha/Reuters/dpa

Source: spiegel

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