Carol Vorderman has slammed King Charles and Prince William’s earnings as “grubby” and “shocking”. The current Monarch and his son are the proprietors of an extensive property empire through their roles as sovereign and Prince of Wales.
King Charles ascended the throne in 2022 after over 50 years as Prince of Wales, during which he managed the enormous Duchy of Cornwall estate. With the death of his mother, Queen Elizabeth, he took over the Duchy of Lancaster.
Meanwhile, Prince William, at 42, inherited the title of Prince of Wales, became the Duke of Cornwall, and assumed control of the Duchy of Cornwall. Their dominions bring in substantial wealth and thousands of acres of land from which they can profit.
An investigation revealed that they collect rent from bodies such as Marie Curie, the NHS, and the Ministry of Justice. While the government previously had insight into the extensive landholdings of both the King and his heir, recent revelations by Channel 4’s Dispatches and The Sunday Times have exposed profitable tax-free agreements for the King, valued at around £610 million.
Documents confirm that income is generated through a variety of means including charging for river crossings, cargo handling on shores, laying cables under beaches, operating schools, charities, and even for grave digging, reports the Mirror.
The Duchy of Lancaster and The Duchy of Cornwall, acting as landlords, have an agreement with the Treasury that exempts them from paying taxes on their corporate profits. Despite this, neither the Duchy of Lancaster nor Cornwall are directly funded by the British taxpayer, but rather through leases and contracts in the names of King Charles and Prince William.
Last year, the Duchy of Lancaster generated a staggering £27.4 million for King Charles, while the Duchy of Cornwall brought in £23.6 million for Prince William. These funds can be used at their discretion, whether to maintain private residences, supplement personal income or pay staff.
According to annual reports filed by the Duchies, the Duchy of Cornwall owns 3,536 properties, while the Duchy of Lancaster holds 1,874. The NHS has agreed to pay the Duchy of Lancaster a substantial £11 million over 15 years to rent a warehouse for ambulances, while the Ministry of Justice pays the Duchy of Cornwall £1.5 million annually for Dartmoor Prison.
Since the documentary was broadcast, Vorderman has voiced her shock on X, previously known as Twitter, to her 981,200 followers. One of her tweets read: “Shocking. Sunday @thetimes and #Dispatches investigation into the grubby and secretive earnings of the Royal Family. Incl charging huge rents to Marie Curie and Macmillan charities WHICH THEY’RE PATRONS OF and which WE donate to. They get the money! The list is long.”
She also wrote: “Royal Family, Sunday @thetimes and #Dispatches. The list of secretive money to the Royals is truly shocking. Including NHS paying the King £11m (over 15 yrs) rent for a warehouse for ambulances…charging our NHS 67% MORE than for the previous tenants.”
Another tweet shared: “Secretive finances of the Royal Family Money from charities, NHS, armed forces….horrified. Shocking detail from Sunday @thetimes and @Channel4 #Dispatches.”
Despite these allegations by Vorderman, the annual financial statements for both Duchies are indeed publicly available.
As a rebuttal, a spokesperson for the Duchy of Lancaster told the Mirror: “The Duchy of Lancaster manages a broad range of land and property assets. It is self-financing and does not receive any public funds in connection with its activities. It publishes an Annual Report and Accounts that is independently audited and available to view on its website and complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.”
Following the release of the documentary, a spokesperson for the Duchy of Lancaster commented to The Times: “The Duchy of Lancaster operates as a commercial company, managing a broad range of land and property assets across England and Wales. It complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.”
They added: “While His Majesty The King takes a close interest in the work of the duchy, the day-to-day management of the portfolio is the responsibility of the council and executive team. The financial and environmental performance of the duchy is disclosed each year in our published report and accounts which are independently audited and freely available on the Duchy of Lancaster website. The Duchy has made a number of key environmental improvements in recent years, delivering a significant increase in the number of A+, A and B EPC ratings awarded to our properties as a result of refurbishment or restoration works.”
Additionally, a spokesperson for the Duchy of Cornwall stated: “The Duchy of Cornwall is a private estate with a commercial imperative which we achieve alongside our commitment to restoring the natural environment and generating positive social impact for our communities.
“Prince William became Duke of Cornwall in September 2022 and since then has committed to an expansive transformation of the duchy. This includes a significant investment to make the estate net zero by the end of 2032, as well as establishing targeted mental health support for our tenants and working with local partners to help tackle homelessness in Cornwall.”
Buckingham Palace and both Duchies have been contacted for their response.
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