The King has surrendered as much as £32.5m in additional annual income for the Royal Family by insisting that an increase to the public coffers from the sale of off-shore windfarm licences should not be used to help fund the monarchy cahalmilmo reports
, suggesting the monarchy was in line for an additional sum from the £129.9m increase in profits of as much as £32.48m. The system is backdated two years, meaning that new total would have been payable for the financial year ending in 2025.
The Palace declined to comment on the figures but it is understood that the Treasury will shortly publish the results of a review of the Sovereign Grant formula designed to take into account the King’s wishes. It is likely the review will result in a reduction in the annual percentage of Crown Estate profits paid to the monarchy in the form of the Sovereign Grant, which it was announced on Thursday remained at the same level for 2022-23 as the previous year at £86.3m.
The extent to which the new monarch is prepared to act on his credentials as a defender of the environment – and apparent advocate of putting on an extra jumper or two during winter – was also revealed in separate figures showingThe annual Sovereign Grant accounts showed that the heating was turned down at Buckingham Palace and other royal homes during the last winter to cut emissions.
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