Offshore-Windparks fill the royal treasuries
The annual financial report of the British Royals reveals enormous increase in royal revenues. For King Charles III, this means full coffers, but the money is already planned. On the shopping list are, among other things, two new helicopters.
The British Royals can look forward to a substantial financial windfall in the coming year. According to the annual financial report of the Royal Household, the amount allocated to King Charles III and his family for the performance of their duties has increased by 45 million pounds to 130 million pounds (approximately 155 million Euro). This represents a increase of approximately 53%.
The source of this revenue growth is the "Crown Estate," which is a portfolio of land and real estate holdings, as well as the rights to the economic exploitation of the seabed around the British coastline. Revenues from these sources fill the "Sovereign Grant" pot, from which the British Monarchy funds their residences and official overseas trips.
Royals benefit from Offshore Windfarms
The expansion of Offshore Windfarms in the North Sea has recently brought in huge sums. The Royal's share of these revenues was recently reduced to 12%, but their available funds are still increasing.
The additional funds will primarily be used for the ongoing renovation of Buckingham Palace, according to the Royal Household. Already on the shopping list for this tax year are two new AgustaWestland AW139 helicopters, which the Royals plan to use for their numerous official engagements. They will replace two aging Sikorsky helicopters.
Besides ongoing costs, there were several larger expenses in the past. The coronation cost the palace 800,000 pounds (around 950,000 Euro) - security costs for the police and military participation were not included in this figure. Overseas visits were also costly: The most expensive for the British taxpayer was the state visit of the King and Queen to Kenya. For charter flights and other expenses, over 166,000 pounds (nearly 200,000 Euro) were spent.
The British Monarchy's increased earnings can be attributed to various sources, including the Crown Estate and Offshore Windfarms. The annual financial report indicates a significant rise in funds for King Charles III, enabling investments in entertainment such as the purchase of new helicopters for royal engagements.
Monarchy's entertainment expenses extend beyond just the new helicopters; they also include renovations of royal residences, like the ongoing renovation of Buckingham Palace, and expenses associated with official overseas trips, such as charter flights.
