King Charles III says he would like a potential $1 billion bump in profits from off-shore wind farms owned by the Crown Estate to be used for the 'wider public good,' rather than to help fund the royal family.
King Charles III says he would like a potential $1 billion bump in profits from off-shore wind farms owned by the Crown Estate to be used for the"wider public good," rather than to help fund the royal family. — is an independently-run business, the profits from which go to Britain's treasury. But the amount of money it generates is used to determine the amount granted to the royal household from public funds, in what's known as the Sovereign Grant.
King Charles III visits local hardship support groups and tours new facilities on January 12, 2023, in Aboyne, Scotland.Deals to develop six new off-shore wind farms on Crown Estate sites would collectively be worth $1 billion more per year for at least three years, according to BBC News. That surge in profits would, under the current arrangement, mean the royal family would receive a significantly larger sum every year from Britain's treasury.
A review of the percentage of Crown Estate profits the royal household receives by the Treasury is already underway, and a decision is expected in the next few months. In a statement, anti-monarchy campaign group"Republic" called Charles' move"cynical PR to pre-empt a government decision to reduce the percentage," BBC News reported.
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