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

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 ?

Personally could give a shiny shit about this - I’m getting more incensed about the fact that inspite of all of that wealth him and his family keep.getting.more. That they haven’t earned and don’t pay taxes on. Keep it all and play all the taxes associated with your estate and stop taking money from the public for you and your hangers on - ffs.

And the rise in the Crown Estates has been triggered in part by the profit from leasing the seabed for wind farms! Surely this should be a national asset.

I certainly am.

Me too.

I'm triggered every single time I see or hear anything about those parasites.

Every. Single. Time.

The crown estate is not the property of the royal family.

It's bloody annoying when ordinary people are struggling with the cost of living crisis & anyone working in public services are only getting a 6% pay increase. It's time they all started funding themselves, even if it meant selling off a few of their palaces.

Whose profits should go into……..funding the public services - teachers , paramedics, nurses, train workers, doctors, barristers and yet where has this “national asset” gone? Into the pockets of the royal family.

They can keep the palaces that are not part of the Crown Estate but they will need to pay for their upkeep and council taxes using their vast private wealth.

I just thought this needed repeating because I think the fact it has 'crown' in it suggests they own it and are kindly giving us some of the profits! Nah, other way round! The wind farm windfall has nothing to do with them and they shouldn't receive a penny of it.

Thank you. I’m sick of the news articles that are mis-reporting what is happening. Plus the whole reason the 25% is decreasing to 12% is because King Charles REFUSED the extra money that came with an increase in Crown Estate profits. He was asked to accept a lower %, he wasn’t pressured or anything, he decided to give more to the Treasury because of the COL crisis in the hope that the government would use it to help the common people.

The King owns the crown estate. It’s not his private property, true. But he owns it. It’s not public money, it’s not taxpayer funded.

No, it’s nothing like that.

King Charles III “earned” the money as much as any landlord or farmer “earns” money off leasing their property and businesses.

Yes, unless the State seized the Crown Estate. No one pays a flat tax rate of 75% much less the 88% it’s going to.

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

This is incorrect. The Crown Estate is owned by whoever wears the Crown. It is owned by King Charles III. However it is not his private property to do with as he wishes as it is entailed and must be passed down to the heir to the Crown.

It isn’t public property, so it is not owned by “the people” which by that I think you mean the State or U.K. Government.

The name isn’t confusing at all.

It’s not public funding.

Sorry, but King Charles III owns 100% of the Crown Estate profits, the fact that 75% of this has been, and soon to be 88% of it will be paid to the Treasury is a flat tax rate that is far higher than anyone else pays via our progressive banded income tax.

If he were to pay taxes on it like we do on income, he’d be paying hundreds of millions £s less to the Treasury than he is now.

He also pays regular income tax on his private income too.

He costs us only the cost of security and transport for him to do his royal duties and it is much cheaper than what a President or Premier would cost us.

No. King Charles III upon learning that the 25% would give him a huge windfall and increase refused to accept it and directed that the extra money be given to the Treasury. It’s not going into his pocket.

”The Treasury said: 'Cutting the rate to 12% is expected to reduce the Sovereign Grant by £24 million in 2024/25, compared with the rate staying at 25%, and over £130 million lower in each of 2025 and 2026.
'This money will instead be used to fund vital public services, for the benefit of the nation.'”

“The King had asked in January for the wind farm profits to be used for the wider public good instead.”

He asked for and got a £0 pay raise as the grant remains at £86m

https://www.msn.com/en-us/entertainment/entertainment-celebrity/why-king-charles-rejected-a-41m-pay-rise/ss-AA1dqbbj#interstitial=1

https://www.msn.com/en-gb/money/other/no-pay-rise-for-king-charles-sovereign-grant-used-to-fund-official-royal-duties-is-halved/ar-AA1e76GK

The royal family do not own the Crown Estate, but the Crown (King Charles III) does own the Crown Estate. It is not his private property as it is entailed, but it is still his property as he is the current monarch.

The Crown Estate is not owned by the U.K. government, people, state, whatever. They are not ours. The money it generates is not public money.

“The Crown Estate is a collection of lands and holdings in the United Kingdom belonging to the British monarch as a corporation sole, making it "the sovereign's public estate", which is neither government property nor part of the monarch's private estate.”

“The Crown Estate is not the private property of the King. Our assets are hereditary possessions of the Sovereign held ‘in right of the Crown’. This means they belong to the Sovereign for the duration of their reign, but cannot be sold by them, nor do revenues from the assets belong to them.
The UK government does not own The Crown Estate either.“

“Since 1760, the net income of The Crown Estate has been surrendered to the Exchequer by the Monarch under successive Civil List Acts, passed at the beginning of each reign.
The Crown Estate is though owned by the Monarch in right of the Crown. This means that the King owns it by virtue of holding the position of reigning Monarch, for as long as he is on the throne, as will his successor. Responsibility for managing The Crown Estate is trusted to us, under the Crown Estate Act, and the King is not involved in management decisions.
By contrast, the King also has private assets, which include Balmoral and Sandringham, and are his to deal with as he chooses. But by no means all of what is commonly called Crown land or Crown Property forms part of The Crown Estate.
In the UK "the Crown" is used not only to describe the Monarch, but also the Executive and the Judiciary. Thus properties owned and managed by Government departments are also Crown Property; these have nothing to do with the funding of the Monarchy or The Crown Estate.”
https://www.thecrownestate.co.uk/

What's interesting is the disagreement amongst people about how the RF's wealth works. It shouldn't be up for debate, it shouldn't be confusing.

It should be transparent and easy for everybody to understand exactly what they own, what they earn and how. This is a big part of the problem

For those thinking it’s just PR spin, the King is only saying he always intended to give the extra millions now because of the news articles over the past few days-

HE SAID IT IN HIS CHRISTMAS SPEECH and it was reported on in JANUARY

”King Charles has asked for profits from a £1bn-a-year crown estate windfarm deal to be used for the “wider public good” rather than as extra funding for the monarchy.”

Under the taxpayer-funded sovereign grant, which is now £86.3m a year, the king receives 25% of the crown estate’s annual surplus, which includes an extra 10% for the refurbishment of Buckingham Palace.

Six new offshore wind energy lease agreements, announced by the crown estate on Thursday, have generated a major windfall for the estate, which would usually lead to a jump in the monarchy’s official funding.

The monarch’s right to collect royalties from wind and wave power was granted by Tony Blair’s Labour government in a 2004 act of parliament. The approach is in contrast to the job of setting royalties and assigning drilling rights for oil and gas, which rests with the government.

But the king, who highlighted the cost of living crisis in his Christmas message, has requested that the extra funds “be directed for wider public good”, instead of to the sovereign grant, at a time when many are facing financial hardship.

It is not clear as to the exact amount of taxpayer funding the king has passed up, but it is likely to be many millions.”
https://www.theguardian.com/uk-news/2023/jan/19/king-charles-redirects-1bn-windfarm-profits-towards-public-good

The media have a lot to answer for as I feel they are confusing people by saying crown estate funds are from “the tax payer” when they categorically are not. Their recent articles are awful too. No mention to the King’s saying he wanted to do this back at Christmas and in January. Instead reporting it like it’s the Tory government reining in a greedy king.

He costs us only the cost of security and transport for him to do his royal duties and it is much cheaper than what a President or Premier would cost us

Only?

You do know the security figure is kept from us don't you? It is thought to be hundreds ofi millions

Please provide proof of your sweeping statement that a Monarch and all his family is 'much cheaper'

'Transport' sounds like he catches the bus. We're talking private helicopters, jets, fleets of cars, golden carriages, royal train nd more

No, you are absolutely wrong. He does not own it. He does not run the crown estate either. It is right there on the crown estate website, he does not own the revenue. You do not know what you're talking about at all.

He doesn’t own it in his private capacity, but he owns it as the monarch. That is right there on the crown estate website too. It is only due to the Civil Lists Act that he (as monarch) surrenders the net revenues to the Treasury. The Treasury then refund him back his 25% or 12%. But it’s his to begin with, just like our money is ours before we pay it to the Treasury as taxes.