King Charles To Get A 45% Pay Rise

[BuxFizz]

“The review of the Royal funding settlement was heavily spun by the Treasury to give the impression that the King would be taking a pay cut so the Crown Estates funds could instead be spent on public services.

In fact, the report reveals the Monarchy is due to receive a huge pay increase.

In 2025, the King’s public funding will increase by a projected £38.5 million.

Lord Turnbull, a former cabinet secretary and Whitehall’s most senior civil servant, who was involved in the official discussions accused the Treasury of seeking to obfuscate how the Monarchy was funded.

He said that linking the Royal finances to the profits of the Crown Estates was “silly” and motivated by a desire to promote the idea that the King was paying for himself and was reducing the burden on the taxpayer.

The complicated formula used to determine the Sovereign Grant was introduced in 2011 by then Prime Minister David Cameron, and his Chancellor George Osborne. Removing Parliament’s centuries old control over Royal funding. They created a new formula that tied the Monarch’s funding to a percentage of the profits of the Crown Estates.”

I’m surprised that this formula to calculate the Sovereign Grant was so recent, does anyone know how it was calculated before?

Also, the irony isn’t lost on me that this new formula was proposed by George Osborne, one the chief architects of Austerity.

King Charles Set To Receive A Huge Pay Rise From UK Taxpayers

Let's not misinterpret what's happening.

You missed out the part where the Royal funding only receives 25% of the profit earned from the Royal estate, (so they only receive 25% of what they earn). The other 75% goes back into the system:
"Since 2017, they have set the percentage at a rate of 25% of the estate’s net profits, resulting in a steady increase in funding for the monarchy as its profits increased."

It also failed to mention that the 45% Pay Rise isn't actually due to a pay rise, but because of increased profits from the Royal estate, and probably due to the changeover from a Queen to a King bringing in even more tourism.
"The anticipated profits are forecast to more than double from £443m this year to more than £1bn next year."
If profits go up, the Royal funding £ value goes up. So 25% of £1bn is more than 25% of £443m... obviously.

And then also missed out that this 25% is looking to be reduced down to 12%. So infact, their funds will be reducing over the next few years:
"The Treasury emphasised a reduction in the percentage of crown estate’s profits to which the king would be entitled, from 25% to 12%."

Ugh, such a parasite. When can we have a referendum and boot out the whole sorry lot of them. I won’t hold my breath.

The royal family do not earn this money. The profits are from land, houses, hotels and offices owned by the crown estate, not by the royal family. Staff manage them.
Before then all the profits went to the state. And a fixed grant was given to the royal family.

It's like the sheriff of nottingham suddenly being given a percentage profit from.land the city council owns, instead of a salary.

When can we all just agree this is a horrible and pointless system and remove the monarchy. The UK is crying out for constitutional reform including the need for a new electoral system.

It also failed to mention that the 45% Pay Rise isn't actually due to a pay rise, but because of increased profits from the Royal estate, and probably due to the changeover from a Queen to a King bringing in even more tourism

It's true about the estate making increased profits, but rather than "increased tourism" this is apparently down to the number of wind farm licences being sold

this 25% is looking to be reduced down to 12%. So infact, their funds will be reducing over the next few years

How's that going to work when the Sovereign Grant's been set up so that the payments can never go down?

lets be really clear, they did not earn any of this. They are not gifting anything to us.

Yes its due to increased profits. This highlights that the sovereign grant introduced by the Tories is a terrible way to finance the royal family. It means even when they do not need such a big increase in actual funds, they will receive it. That this is happening during a cost of living crisis is a total insult to the public.

The funds are NOT reduced, the percentage is. The actual money being given has increased.

thank you, I missed the outlandish claim that tourism increased because of the King! and that was why revenue increased! That's just BS

I thought this was worth posting here too since its relevant to the funding and why this increase has happened

https://www.theguardian.com/uk-news/2023/apr/05/how-tory-royal-funding-deal-gave-rise-to-king-charless-potential-cash-windfall

do follow the link in this to the gov.uk site which explains the golden ratchet clause, this prevents them from ever receiving less. This clause has kicked in twice and the treasury had to top up their funding. We have been sold the lie it is tied to profits.

https://www.gov.uk/government/publications/sovereign-grant-act-2011-guidance/sovereign-grant-act-2011-guidance#determination-of-the-sovereign-grant

If there was a republic tomorrow, would KC not be keeping the various estates, jewels, 100% of the income and paying tax on it, so he’d be far wealthier ?

Utterly shocking that anyone could be so far removed from what's going on in the country that they would think this was OK. And communicated in a duplicitous, underhand way.

Time for a proper debate about change. Not the usual 'President Rishi/Blair/Trump' would be worse - but actually, what would be better. I'm looking at the Irish system with interest and I'm sure there are other good models of a non-hereditary, time-limited heads of state, that work.

The Royal Trustees can reduce the percentage if the profits are so huge that it means the amount still won't go down even after the percentage reduction. Which is what has happened here.

No he wouldn’t

He doesn’t own the Crown estates . The name is deliberately confusing .
It belongs to the people .

Charles and his grubby grifters do nothing to manage the estate . They take photos as lord of the manor and sit in on meetings to look like they are doing something but they aren’t.

Clearly it works to confuse people who are easily distracted. I’ve seen many times posters stating that Charles would keep the land. He wouldn’t

OP this topic ( Charles’ 45 % pay rise ) should really be on the main boards.
It is national disgrace .

Consultants are striking ( drs), teachers , nurses , are struggling - these are educated hard working people who really contribute to society and this joke rakes in a 45 % increase ON TOP of the rest of the third of billion he costs !

The English ( and I’m sorry but the supporters of the ‘royals’ are demographically white older female English) must be as passive as is reported . Other countries would not put up with this.

I actually thought someone among their retinue would have had the sense to suggest that his most pompous majesty pay for his own shiny hat day- small change for him ,but no.
It’s unbelievable

Can we at least have a say in whether to want to continue with this embarrassment? Why would royalists object? They claim the Windsors are loved.

@Novella4

You’re clearly triggered

Oh yes @Novella4
My whole thing in the lead up to the Coronation (shiny hat day haha) would be .. what if Charles set a new precedent and said 'I will stand the cost of the whole thing'.
He is a billionaire. If he did that, I honestly would've had so much more respect for him. What a fantastic example to pass on down to his son. And his son to do the same. It's a once-in-a-lifetime for him, after all.
I didn't want a Coronation, I didn't want massive public funds being spent on it. Nor did lots of people.
But of course he didn't do that. He has upped the game, I don't believe a word he says now. They are all greedy. Anything that comes out about cost cutting like a car that runs on cheese, or turning down the heating by a degree for the swimming pool, is just window dressing to shut us up. 45% increase on its way to him 2025

Clearly not when the likes of Novella, me and others have been saying the same sort of thing for a very long time.

@Roussette

off to cash converters with a few tiaras 😜

Did you see the Windsors - Anne’s cost cutting idea involved moving the whole thing to a travelodge

In theory no, becauise he doesn't own the estates on any personal basis

However there's a long and depressing history of the description of assets changing according to what suits, and while there's little realistic chance of a republic happening any time soon, I've no doubt that any such move would trigger instant action to enable a royal grab

And worst of all there are too many politicians who'd go along with it

Interesting. I don’t remember when Royal public funding changed from a grant to 25% of the Crown Estates.

Does anyone remember? Was it controversial at the time?

I wasn’t even aware that this current model of the Sovereign Grant was so recent and introduced by David Cameron.

It’s annoying that the Sovereign Grant is spun as the Royals helping out us plebs by handing over 75% of the profits, when they don’t even the land!

Wow! So the public funding is ring fenced to never go down, so it’s only ‘linked’ when profits go up.

Ah no, this is just too much now.

Off with their heads and rob their wallets.

Seriously pissed off with the lot of them. Hiding behind a veil of positive PR spinning, and it will work.

Yes.

Yup. Isn;t it disgusting? It's another reason I dislike Cameron and Osborne.

You missed out the part where the Royal funding only receives 25% of the profit earned from the Royal estate

Most of us don’t care and only care about why we are all struggling in the Cost of Living of crisis when this bunch of spongers gets get well above inflation pay rises when some of us are all bloody well picketing the government for pay rises which would cost far less than this family’s increase has. This was very well done for the government to bury this news behind the by elections.