July 26, 2024

The Royal Family sure does have a lot of money - a look at this year's financial disclosures

Show Notes
Transcript

Don’t expect Charles nor William to be hosting Netflix cooking shows or podcasts anytime soon, although to be fair, Charles does have a nice side-hustle selling jam……anyway, King Charles, as Head of State, is set to receive £132 million from the UK Treasury in the 2025/2026 tax year. This represents a significant increase of over £45 million from the current financial year's £86.3 million.

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Hello and welcome to Palace Intrigue. I am your host,

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Mark Francis. Don't expect Charles nor William to be hosting

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Netflix cooking shows or podcasts anytime soon, although to be fair,

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Charles does have a nice side hustle selling jam anyway.

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King Charles's head of State is set to receive one

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hundred and thirty two pounds from the UK Treasury in

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the twenty five twenty six text here. This represents a

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significant increase of over forty five million pounds from the

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current financial years eighty six million pounds. Much of this

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increased funding will be allocated towards the planned three hundred

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and sixty nine million pounder restoration of Buckingham Palace. The

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Treasury will reassess the amount of King Charles receives once

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these motivation works are completed. The increase is based on

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the profits of the Crown Estate from two years prior.

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The Crown of State reportedly profit of one point one

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billion pounds in the last financial year, largely due to

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the success of offshore wind farms. The announcement of the

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funding changes drough criticism, especially considering the economic challenges faced

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by the general public. The Guardian highlighted that the Treasury's

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portrayal of the changes as a pay cut for the

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King was misleading, given the substantial increase in absolute terms

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due to higher Crown Estate profits. Historically, the profits from

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the Crown of State were managed by the Sovereign, who

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used the funds for public services. This system changed in

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seventeen sixty and the King George the Third who allowed

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Parliament to manage the revenue, paying the monarch sum for

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royal duties. The Sovereign Grant Act of twenty eleven further

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refined the system, pegging the monarchs funding to a percentage

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of Crown Estate profits. Meanwhile, Prince William received over twenty

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three million pounds from the Duchy of Cornwall in his

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first full financial year managing the estate from April of

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twenty three to March of twenty four. The Duchy, established

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by King Edward the Third in thirteen thirty seven, continues

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to serve as the original purpose of providing income to

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the Prince of Wales. The annual income of twenty three

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million pounds funds William's official duties, charitable interests in the

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future needs of his children. The Duchy of Cornwall, alongside

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the Duchy of Lancaster, which provides a private income to

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the King, consists of extensive land and property holdings. The

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royals receive all post tax profits from these estates. Despite

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their historical roots, The Duchi's face criticism from some quarters.

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Graham Smith, chief executive of Republic and Anti Monarchy Organization,

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argued that the profits should be redirected to public services

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and local communities instead of benefiting wealthy royals. He stated,

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we do not owe the royals a living. We do

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not owe them palatial homes, private helicopter travel, or lives

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of leisure and luxury. In response to the Financial Reporter,

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royal official highlighted that William and Kate had made private

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donations to various causes of the past year. These include

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the London Air Ambulance, Aid for Ukraine, relief for hurricane

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affected Caribbean regions, and the mental health text service Shout.

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Although the amounts of these donations were not disclosed, it

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was revealed that the couple plans to launch a significant

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mental health initiative later this year to support rural communities.

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Since inheriting the title of Duke of Cornwall following Queen

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Elizabeth the Second's death in September of twenty two, Prince

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William has been actively involved in managing the duchy. Alistair Martin,

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the Duchy's secretary and keeper of the records, mentioned that

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William communicates frequently via What's App, reflecting a modern approach

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to estate management. Martin noted his Royal Highness the twenty

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fourth Duke would telephone me his Royal high as the

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twenty fifth dute will WhatsApp me. There will be weekends

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when my WhatsApp message will be in double figures, and

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I will be very responsive. If something has gone well badly,

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I will want to tell my boss and he'll be

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straight back. Martin said that with a straight face, as

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if we might be expected to communicate by sending a

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courier on horseback. Royal commentator royal expert Ingrid Seward stuck

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up for the Royals, telling the Daily Mirror King Charles

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knew having so many working Royals was costing far too much.

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He immediately reduced the number. No more jumping in and

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out of helicopters as they used to. They are all

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now extremely conscious of the costs and the unsustainable impact

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on the environment. They are representing what is supposed to

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be the best of Britain. If we are not prepared

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to fund them properly, we shouldn't have them. They are

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excellent value for money. Pellacentric will be right back with

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all his royal financial news. Once again, eyes were on

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the Royal Train. The Royal family has had its own

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dedicated trains as the time of Queen Victoria. The current

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Royal train came into service in nineteen seventy seven, marking

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Queen Elizabeth the seconds Silver Jubilee. The first dedicated Royal

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carriage was introduced in eighteen forty. Queen Victoria, initially skeptical

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about rail travel, embraced it after a journey from Slough

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to Paddington in eighteen forty two, describing it as delightful

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and so quick. The train's exterior is a highly polished

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burgundy known as Royal Claret, with royal crests, black coach

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lining and a gray roof. It has nine carriages, though

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not all are always used. Contrary to what some might expect,

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the interior is more functional than luxurious. Royal aids have

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described its bathroom fixtures as you could find in home

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Base or B and Q in The decor is very

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g planned, popular in the nineteen sixties and seventies. Typically

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only singing royals like King Charles, Queen Camilla, and the

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Prince and Princess of Wales used the train. In the past,

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the Queen's Corgies and other members of the royal family

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have traveled on it. The train is used for official

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engagements and longer journeys around the UK, such as trips

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to Scotland or Norfolk. It allows the royals to travel

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overnight and arrive rested for a full day of engagements.

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King Charles has his own lounge car with a bedroom,

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bathroom and study, featuring a small writing desk and a

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blue and white floral pattern sofa. That matches the curtain fabric.

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The other carriages include dining cars at general purpose saloon

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for senior staff, a sleeping car for junior staff, and

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a carriage for escort staff and maintenance workers. A Royal

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chef usually joins the train with menus particulously planned. The

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cost of the Royal Train met by the taxpayer has

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long been controversial. In the twenty nineteen twenty twenty financial year,

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three trips costs more than sixty three thousand pounds. During

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the Golden Jubilee year of two thousand and two, journeys

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cost eight hundred seventy two thousand, with an additional service

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contract cost of three hundred thousand per year. In twenty seventeen,

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a trip from London to Kunbrin I know I've mispronounced

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that by Charles costs eighteen thousand pounds, equating to one

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hundred thirty pounds per mile. Standard anytime rail ticket for

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the same journey the same time costs just one pound

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thirty per mile. Royal Aids believe the train offers the

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best option for safety, security, efficiency and minimal disruption to others.

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The Queen preferred it for its privacy and convenience especially

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since it allows travel in bad weather and removes the

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need for early starts. The train often travels overnight to

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avoid disrupting other trains and eliminates the need for accommodation arrangements.

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Megan Markele accompanied the Queen to Cheshire on the Royal

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Train in twenty eighteen for her first joint royal engagement

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with the Monarch. The Royal Train is pulled by one

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of two Class sixty seven locomotives, the Queen's Messenger and

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Royal Sovereign, both decorated in royal claret livery. These run

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on environmentally friendly biofuel made from waste vegetable oil. In

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the past, trains named Prince William and Prince Henry, named

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after the human William and his brother Harry, were a

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pair of Royal Class forty seven locomotives that pulled the train,

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but they were retired in two thousand and four. In

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two thousand, a Royal bodyguard accidentally discharged his gun on

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the train while the Queen was sleeping. The bullet hole

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can still be seen on a table staff jining car.

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In nineteen eighty, the front page story claimed that Lady

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Diana Spencer had been sneak to board the Royal Train

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to be with Charles three months before their engagement. Charles,

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Diana and her mother always insisted the tale was false.

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It is extremely unlikely that we will ever see the

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Duchess of Sussex on the Royal Train ever again. If

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for no other reason. The train is in the UK

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The Royal Family sure does have a lot of money - a look at this year's financial disclosures

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