King Charles Raises Rents During Cost of Living Crisis

[BuxFizz]

Charles ascended the throne at a time when millions of British residents cannot afford their living expenses. Standards of living are falling as wages fail to keep up with rising housing and food costs.

The King appeared sharply aware of this when, after his mother’s passing, royal sources began telling the media that Charles envisioned a ‘slimmed down monarchy’.

The latest Duchy of Lancaster figures show no notable signs of cost cutting in Charles private estate. Operating costs increased by 40% as the Duchy hired more staff and gave its Chief Executive a pay rise of £275,000 (lovely!).

The Duchy raised rents by 3% this last fiscal year, just below the private rental increases that have contributed to the Cost of Living crisis.

This Duchy rent hikes have contributed an extra £8.2 million for the Royal coffers.

Of course, Charles is not the typical land lord. He does not rely on rental income to pay his mortgage or household bills.

Britain’s Most Famous Landlord, King Charles Profits From Raising Rents

He's raised rents at a lower rate than other people and has significantly increased running costs. I'm not sure I get the point being made here?
A modest rent increase is fine surely? Landlords don't have to be personally on the breadline to justify that - it's a business transaction.

The NYT has a very clear agenda when it comes to the Royals, not sure why they're fussed but there we go. Having read the article in a different outlet they leave out the average rental price which I think is a far better indicator of whether a small raise is fair. If they're below market value already then sure, a lot of restoration works have apparently been done recently- if they're hugely expensive and this is therefore a sizable hike that makes them wildly unaffordable then not good. Anyone know if this info is available anywhere?

Of course, Charles is not the typical land lord. He does not rely on rental income to pay his mortgage or household bills.

So people that run a business that have made money don't need to continue making their business profitable because they're already wealthy?

What a stupid statement.

Charles isn't a typical landlord, because the land is part of a huge holdings for the crown and different titles. It doesn't go into his pocket for his to spend on Dominoes and McDonald's

I also very much doubt that the properties being moaned about aren't housing poverty stricken minimum wage workers ... Last I checked, Charles and the various holdings weren't registered as social Landlords renting out 1 bed flats to people on Universal Credit..

Yeah, because the King absolutely goes into an office everyday and sorts out his rented houses.
Go back to bed!

Well OP ,

Charles Windsor accepted a 45% pay rise for himself and didn’t contribute one penny towards his unnecessary shiny hat day ( the economy contracted so we can add ‘royals help the economy’ to the list of myths ) so this tax payer funded billionaire raising rents is standard ‘royal’ behaviour .

Everything they have they stole .

I think your argument is a bit dumb.

He should pay inheritance tax though like the rest of us.

Nothing he and the RF do surprises me any more. And it is proven that the economy contracted in May because of the Coronation and public holiday.

^The ONS said that while the extra bank holiday, on Monday 8 May, shuttered most normal business activity, the hospitality sector failed to capitalise. The UK economy contracted in May after businesses across the country downed tools for the King's coronation, according to official figures.
Gross domestic product (GDP) declined by 0.1% for the month, after increasing by 0.2% in April, the Office for National Statistics (ONS) said.^

On slimming down... that's a load of BS. He's been saying it for over a decade. It has slimmed down naturally with the disgraced Royal and Harry leaving. It doesn't stop them keeping the same amount of taxpayer money, and lo and behold awarding themselves a 45% increase in 2025!

The Duchy raised rents by 3% this last fiscal year, just below the private rental increases that have contributed to the Cost of Living crisis.

Gah, if you think 3% is “just below the private rental increases” average of 11% I have to wonder if 30% would be “just above” 🫤

https://www.bbc.co.uk/news/business-65103937

@ReleasetheCrackHen

Do you apply the same approach to Charles’ 45 % pay
increase ?

Or do you skip that bit?

That’s not true about the pay raise. In January, he made it known he was refusing the 45% pay raise that would come from his 15% share of the increased crown estate profits. No idea why later in Jun/Jul the media made a hullabaloo about it when he initiated refusing the money and asking the government (who get the money) to use it for the greater good of the public.
https://www.theguardian.com/uk-news/2023/jan/19/king-charles-redirects-1bn-windfarm-profits-towards-public-good

On the coronation, we made money on it as taxpayers as the TV rights were over £1bn that went straight to the Treasury.

On the coronation, we made money on it as taxpayers as the TV rights were over £1bn that went straight to the Treasury.

So the Office of National Statistics are wrong then? I know who I'm inclined to believe. They are official figures.

https://www.theguardian.com/uk-news/2023/jul/20/king-charles-to-receive-huge-pay-rise-from-uk-taxpayers

Link to ONS?

Typical, he refuses the pay rise and the media then projects out into the future and says “if the % stays the same, then he will have a pay rise in 2025”

It’s no surprise what with our media owned by anti-monarchy Americans and Chinese.

Why can't you google it?

Here is one report.

https://www.independent.co.uk/business/uk-economy-contracted-in-may-after-king-s-coronation-halted-activity-b2374445.html

It’s no surprise what with our media owned by anti-monarchy Americans and Chinese.

I presume that's a joke.

GDP isn’t Treasury Revenues my lovely. So where is this ONS report showing that the coronation was a net loss?

I actually made an error. It’s anti-monarchy Americans and Russians that own most of our “British” newspapers.

I didn't say that... I said the Coronation caused a shrinking of the economy in May. Reported in very many places.

From Financial Times...
An extra bank holiday to mark the King’s coronation contributed to the fall in UK gross domestic product between April and May, Office for National Statistics data showed.

https://www.ft.com/content/6008afa9-ed4f-44d2-a40b-23fa8a0c2fba

Yes, poor old little landlord businessman Charles only raising rents during a cost of living crisis when he could have raised it a lot more!

If people don’t care that’s on them. I find it personally nauseating especially when there was all that talk of Charles being mindful of the economic hard times, wanting a budget coronation and slimming down the monarchy so people get more ‘value for money’.

Seems like the Monarchy’s slimmed down but the costs have gone up.

I hope Charles looks to William as an example of how to use his Duchy for better housing initiatives.

He doesn’t pay corporation tax either.

Some of these replies make me think of Trump’s comment about him being able to shoot someone on 5th Avenue and still being popular with his voters.

Whatever Charles does there’ll be someone rushing along to defend him and his corrupt and greedy family.

He’s laughing all the way to the bank 🙄

There was no “ budget coronation” he wanted his big party with his special party hat. And they’ll be no slimmed down monarchy - it’s all smoke and mirrors to appease the little people.

“The 45,000 acre estate is roughly the size of Washington DC and generates millions of pounds a year in rental income a year, without paying corporation taxes like most businesses in Britain are obliged to. (Charles voluntarily pays an undisclosed amount of tax on his private income).”

How much do you think he pays?

News reports say he pays some tax on his private income. Well.... that could be 0.5% for all we know.

He boosted his wealth to just short of £2billion when Queen died - no IHT. Vast wealth being passed from mother to son without any of the tax implications of us mere mortals. Ditto, it will be father to son when Charles dies.

No CGT

"Buckingham Palace refused to comment on private finances"
I bet they did

We are the most expensive Monarchy in Europe. I have no idea why we aren't up in arms about this. And it's getting worse
https://edition.cnn.com/2020/03/14/europe/european-royal-families-intl/index.html