King Carlos III has proposed to the British Government to assign “to the public good” part of the income that would correspond to him through the sovereign Subsidy that the monarch receives annually to cover the palaces and official commitments.
Michael Stevens, in charge of monarchical finances, has written to the British Prime Minister, the Conservative Rishi Sunak, and to the Economy Minister, Jeremy Hunt, to ask that this amount, which is nourished by the benefits of the exploitation of the historical properties and royal lands, which have been administered by the State since the 18th century.
In exchange, the king on duty receives a subsidy that is currently 25% of the performance of that “Crown State” (crown assets), which was estimated last year at 86.3 million pounds (984 million euros )
The manager of the Crown State has today announced a deal for some of its land to be used for six new offshore wind farms in various parts of the UK, estimated to bring an annual profit of £1bn (€1.14bn). ) for at least three years.
Carlos III proposes to reduce the proportion of this new income that goes to the royal subsidy -so that a good part of it remains with the State-, which will surely be reflected in the amount received in the 2024-2025 financial year.
The sovereign tries with this measure to tune in with the population in the midst of a crisis due to high inflation and also coincides with the recent publication of the memoirs of his youngest son, Enrique, which have revealed negative details of the royal family
