Sunak Takes Wind Farm Profits From King Charles to Fund Services
- Government to keep greater share of Crown Estate revenues
- Monarchy’s estate made record £443 million profit this year
King Charles III
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Prime Minister Rishi Sunak cut the wind farm profits used to finance King Charles III’s household, directing the funds instead to boost the UK’s public finances.
The sovereign grant — used to fund the royal family — will be frozen at £86.3 million ($111 million) in the 2024-25 tax year, the Treasury said in a statement on Thursday. That’s despite a 41% jump in profits at the Crown Estate linked to income from new leases for six offshore wind farms. The estate manages much of the UK seabed on behalf of the monarchy.