King Charles III - He is betting on new royal values
The annual report 2023/2024 of Buckingham Palace reveals that the Royal Family has set new goals for itself. According to the British newspaper "The Telegraph," quoting the document, King Charles III (75) intends to "remain curious" and "help shape a better world."
"Value for Money" Pursued
The monarch has reportedly been able to "set new targets" based on renewed values during the first months of his reign, which began after the death of his mother Queen Elizabeth II (1926-2022) in September 2022. In detail, these values are: "Being careful," "Having influence," "Achieving success together," "Staying curious," and "Leading by example." The report adds that the duty of the Royal Family is to "support the Sovereign in serving the United Kingdom and the Commonwealth and contributing to a better world."
Moreover, the Royal Family has pledged to place "great value on value for money." The financing of the monarchy by taxpayers in the UK is a recurring topic, especially critics of the Royal Family reject the high costs. Charles is addressing this criticism with a streamlined monarchy with fewer working members of the Royal Family. This was evident at the Trooping the Colour birthday parade in June, where the King was accompanied on the balcony of Buckingham Palace by a small group of relatives.
However, the costs for the appearances of the royal family in the past year have risen to almost five million Euro, despite 400 fewer visits and fewer foreign trips. This represents an increase of around 355,000 Euro compared to the previous year. A source from the Royal Family told the "Daily Mail" that the costs were due to generally increased prices for goods and services.
Coronation cost the Palace nearly one million Euro
The detailed "Sovereign Grant" report lists how the monarchy is financed by taxpayers. According to the current report, the coronation of Charles III in 2023 cost the palace around 950,000 Euro. There are 27 individual trips of members of the royal family listed, for which the travel costs amounted to at least 20,100 Euro - only eight of these trips involved the King. The most expensive trip in the twelve months up to March 2024 was the five-day state visit of the King and Queen to Kenya in October and November 2023. The travel costs for this amounted to almost 200,000 Euro.
- King Charles III, in his role as the monarch, acknowledged his desire to continue learning and making a positive impact, as stated in the annual report 2023/2024 from Buckingham Palace.
- Despite the term of office of Queen Elizabeth II II ending in 2022, following her passing in September, her values of care, influence, success, curiosity, and leading by example continue to guide the Royal Family.
- As part of their commitment to value for money, the Royal Family has opted for a more streamlined monarchy, with fewer working members, as highlighted in the annual report.
- The annual report also revealed that the combined expenses for the royal family's appearances in the past year amounted to nearly five million Euro, despite 400 fewer visits and fewer foreign trips compared to the previous year.
- The coronation of King Charles III is expected to be an expense for Buckingham Palace, as indicated in the detailed "Sovereign Grant" report, with the reported cost of the coronation in 2023 approaching one million Euro.
