How transparent are the royals being about money?
BBC News 2026-06-26 15:03:39
Context: The British royal family's finances are under scrutiny, with a focus on transparency and accountability, following scandals surrounding Prince Andrew Mountbatten-Windsor. The Sovereign Grant, which funds the monarchy's running costs, has been set at £99.9m for the next five years, a reduction from the current record high of £138m, but still higher than pre-2016 levels. This development comes as King Charles III and Prince William have disclosed their tax payments, marking a step towards greater openness.
Key Facts
- The Sovereign Grant for 2025-2026 has been set at £99.9m, a reduction from the current £138m, but still significantly higher than the £43m in 2016-2017, which would be around £58m with inflation.
- King Charles III's personal tax payment for 2024-2025 is £12.9m, based on his income from the Duchy of Lancaster, private investments, and properties such as Sandringham, although the breakdown of this figure is not disclosed.
- The Prince of Wales declared an annual tax payment of £7.76m, placing him among the country's highest taxpayers and earners, while the King has become the first monarch to reveal his tax bill.
- The Sovereign Grant is based on a percentage of the Crown Estate's profits, but the money comes from the Treasury, and the grant had been increased to fund 10 years of building work at Buckingham Palace, including a sharp two-year rise.
- Despite the reduction in the Sovereign Grant, the "golden ratchet" mechanism, which ensures the grant can only increase but not decrease, will remain in place, with a temporary exception allowing for the one-off reduction, and a mechanism to prevent excessive increases.