King Charles III of England has informed the Government of his desire to forgo part of the income that he is theoretically entitled to under the Crown-State agreement, so that funds from the operation of a wind farm can be used for the «greater public good».
The Crown has confirmed agreements for six offshore projects which anticipate annual revenues of £1 billion and which, under the current agreement between the Government and the Royal Household, would allow the royal family to make use of these funds.
The Royal Household has its own private asset manager, the Crown Estate, which redirects the family’s business and from which 25 percent is drawn to pay for everything from official engagements to residences. Last year, the grant amounted to 86.3 million pounds.
Charles III already acknowledged the rising cost of living in his first Christmas speech as king, so he is anticipating a potential increase in his personal income from gains that Buckingham Palace acknowledges as «unexpected,» according to the BBC.
This has been conveyed by the royal finance chief, Michael Stevens, to the Prime Minister, Rishi Sunak, and the head of finance, Jeremy Hunt.
Source: (EUROPA PRESS)
