British Monarchy - Moneyspells for the British Royals
The British royals can look forward to a substantial financial windfall next year. According to the British news agency PA, as revealed in the annual financial report of the Royal Household, the amount allocated to King Charles III. (75) and his family for the performance of their duties will increase by 45 million pounds to 130 million pounds (approximately 155 million Euro).
The background to this is the significant increase in revenues from the so-called "Crown Estate." This is a portfolio of land and property holdings, as well as the rights to the economic exploitation of the seabed around the British coastline.
Royals benefit from Offshore Wind Farms
Revenues from these sources fill the pot known as the "Sovereign Grant," from which the British royals finance their residences and official overseas trips.
The expansion of Offshore Wind Farms in the North Sea has brought in huge sums of late. The proportion set aside for the Royals was recently reduced to 12%, but the total amount they have at their disposal is still increasing.
Two Helicopters on the Shopping List
The extra money is primarily intended for the ongoing renovation of Buckingham Palace, according to the Royal Household.
However, two new AgustaWestland AW139 helicopters are already on the shopping list for this tax year, with which the Royals want to travel to their numerous official engagements. They are intended to replace two aging Sikorsky helicopters.
Coronation cost the Palace 800,000 pounds
In addition to ongoing costs, there were several larger items in the past. The coronation, for example, cost the palace 800,000 pounds (around 950,000 Euro) - but the costs for security from the police and military participation were not included in this.
Foreign visits were also costly: The most expensive was the state visit of the King and Queen to Kenya. For charter flights and other expenses, over 166,000 pounds (almost 200,000 Euro) was charged to the British taxpayer.
The financial windfall for King Charles III and his family is largely attributed to the revenues generated from the Crown Estate, which includes Offshore Wind Farms and rights to the seabed around the British coastline. The Royal Household is planning to use a significant portion of the increased funds for the renovation of Buckingham Palace. Two new AgustaWestland AW139 helicopters are set to replace aging Sikorsky helicopters, with the cost covered by the additional funds. The coronation of King Charles III came with a price tag of 800,000 pounds, while the most expensive foreign visit was the state visit of the King and Queen to Kenya, which cost around 166,000 pounds for charter flights and other expenses.
