King to receive extra £45m of public money as crown estate income soars
https://www.theguardian.com/uk-news/article/2024/jul/24/king-to-receive-extra-45m-of-public-money-as-crown-estate-income-soars?CMP=fb_gu&utm_medium=Social&utm_source=Facebook&fbclid=IwZXh0bgNhZW0CMTEAAR0fpizl0n35hMgVk86bPbC21jyIrI5w5dQV87JLSc8wYXcJzdfUpmXn4o0_aem__dFBsSRU-Ds9o61rAULKkA#Echobox=1721801609
Posted by Codydoc4
27 Comments
This is a really misleading headline, King Charles himself is not going to see an extra £45 million transferred into his Monzo account – that money is going to wards the Monarchy overall, and [most of it will be spent on property maintenance ](https://www.instituteforgovernment.org.uk/explainer/royal-finances)(of royal palaces, which are tourist attractions and historic buildings), payroll costs for staff (for the historic palaces + the royal family essentially work as diplomats and this necessitates lots of staff), and travel expenses and son on.
Full disclaimer I do support the Monarchy – but this is a fairly irresponsible headline because you could conclude from the headline alone that King Charles is getting all that extra money, which is just not the case.
*Royal accounts also show that the Prince of Wales received £23.6m income from the Duchy of Cornwall in his first full year after inheriting the land and property owning estate from his father.*
Always remember the royal family doesn’t pay IHT, their assets get to transfer tax free ad infinitum without even needing to bother paying an accountant. They then draw massive profits every year that again they don’t have to pay income tax on – they have voluntarily paid income tax on some income streams, but enough is enough, their financial position is preposterous as is, making income tax voluntary and other forms not apply is not needed in the slightest.
Tax the rich means tax actually rich people. In the U.K. we clobber the middle and upper middle classes, let the rich off the hook completely and leave those on lower incomes/without any wealth to suffer.
Meanwhile we are told repeatedly by those with influence that staggeringly high levels of wealth and income are remotely achievable, deserved or justifiable whilst those with lower and middle levels of income and wealth are set against each other.
Edit: having looked it up, Charles IHT bill alone would have been equal to about 10% of the money raised through IHT from the rest of the country that year. It shouldn’t be considered radical or socialism to apply the law of the land to everyone and the sums involved are not immaterial.
Cor blimey, he don’t half deserve it what with being such a brilliant monarch an’ all. god bless ‘im
Fair play to him. He didn’t get a leg up or handouts or nothing. Worked for every penny our Charlie. Respect.
This is actually the least controversial bit of the monarchy to me. If you have a presidency you have to maintain residences, put on state banquets, pay salaries, pay for petrol etc etc and that’s what the crown estate income does. The crown estate income is a slightly odd method of doing it but it’s not a cost that just goes away in a republic.
It’s not “Extra public money” for fucks sake, it’s just an increase in the amount the crown estate (which, technically is the crowns personal property) has generated.
The crown gets a set percentage of this (12%), the government gets all the rest (88%), so if the crown is getting more money (£45m), then the government is getting even more money (£330m).
The phrasing of the story wilfully presents it in the headline in a manner which is easy for most people to conclude that extra tax money is being funnel to the monarchy, when really, it’s an asset that funds the monarchy **and** public services doing better than last year.
Remember folks, the amount of money that Charles gets is a set percentage of the amount of money the government gets. The Crown Estate makes money, 88% of it goes to the government, 12% of it goes to the upkeep of state assets. (legally the crown IS the state, which is why the guardian is able to say that it goes to Charles, it doesn’t personally go to him).
If the Crown gets an extra £45 million, that means the Government gets an extra £375 million.
How did they acquire all this land in the first place ? What is the origin of this generational wealth?
Hope he can spare a few quid for Harry, Megs, and the grandweans.
That’s money which could have been used for much more valid reasons, like paying his sex offender* brother’s legal bills.
*allegedly.
If the Crown estate wasn’t protected it would be asset stripped/left to crumble. It is an important historical legacy and part of the reason for tourism in this country. Plus, the royal parks and museums are free to enjoy for everyone. It is part of the common wealth. The ceremonial regalia that is part of the workings of Parliament reminds politicians to aspire to the highest ideals of public service and decorum. When the royals behave themselves, they represent an ideal of behaviour for others to follow. It is obvious that in America, the people treat Presidents like royalty because it is part of human nature/the nature of society that we need role models. It seems strange but we want someone to be better than the rest of us. Oh, I know that makes no sense but people often don’t make sense.
They literally don’t need to be given a single penny ever again and they will still be richer than any of us could imagine for generations to come. It’s disgusting.
Comments defending the existence of the monarchy in 3..2…1..!
Fuck that. It’s not his money he can go work himself
The settlement with the Crown Estate needs to be fixed ASAP. We need to go back to a fixed list.
Those ivory backscratchers don’t pay for themselves!
Everyone in this thread is saying “but but but all the money goes to renovations!”
First of all no it doesn’t, it goes to other lifestyle things as well including a delightful “other” category.
Second of all, renovations on WHAT?! It wouldn’t happen to be the many beautiful properties that the royals get to live in for free would it? If the Crown is the state, and that is state money, then the royals are living for free on state money. Simple as.
“Oh I’m SURE you’d give up 88% of your salary wouldn’t you mate!” You bet your ass I would if it meant I got to live in a mansion for free and have it maintained by the state!
Misleading headline. Guardian has become a leftwing D.Mail.
[removed]
[Someone doesn’t understand how the Crown Estate works..](https://www.thecrownestate.co.uk/news/the-crown-estate-delivers-a-record-gbp1-1-billion-net-revenue-profit-for-the#)
I’d say keep them but drastically resize them. They don’t need our money, they have plenty. They also don’t need all the land and property, I’d redistribute it. This is an old article but you get the gist – was £13 billion worth. I’m sure they can get by on the rent alone. https://www.businessinsider.com/how-much-of-the-uk-does-the-queen-own-2017-6
How is it ‘public money’ if it’s directly related to extra income generated by the estate?
I am fine with it.
But I would like a tax on multinationals and a wealth tax that the UK lobbies to apply firstly across UK and Europe and then the world
eat the rich – off with their heads – something like that, fuckem.
Meanwhile our local kids park is falling apart and the council just keep saying “no money”
Remind me how many pensioners struggle with heating costs each year
This country takes the piss. Highest taxes since WW2 and we are told they are going up again, cost of living out of control, debt up to our eyeballs, and then this. Tone deaf. I hate this country.