Prince Charles news: Why British taxpayers are getting a ‘bargain’ with Charles’ finances | Royal | News (Reports)


British taxpayers are getting a “bargain” in terms of finances with Prince Charles, a royal commentator has said. Richard Fitzwilliams spoke to about the Royal Family’s annual expenditure report. Although reports showed there has been a serious economic shortfall for the monarchy this year, Mr Fitzwilliams noted that there had been “very few changes” with the Prince of Wales.

He told “Yes, there will be a very substantial shortfall in the Buckingham Palace accounts, as laid out by the report.

“We also saw the Prince of Wales’ accounts, which is Charles and Camilla, William and Kate and, then, not now or in the future, Harry and Meghan.

“In that regard, there were very very few changes there.

“I think the taxpayer gets a bargain because of the amount that the prince gets from the Duchy of Cornwall.”

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Mr Fitzwilliams continued: “That, of course, was set aside for the Prince of Wales since Edward III.

“One of the interesting aspects of it was the revelation by a Palace source that the millionth person will soon have benefited from the Prince’s Trust.

“So that is an absolutely phenomenal example of how a royal link with charity can be used for the good.”

According to the Palace, the Duchy raises over £100m annually for a variety of good causes in Charles’ philanthropic work.

The couple also repaid the £2.4million cost for the renovation of their Windsor property, Frogmore Cottage.

The money for that had come out of the sovereign grant, not the Prince of Wales’ private earnings from the Duchy of Cornwall.

The sovereign grant is the package of money that is used to pay for the official work of the monarch and her family, and also the upkeep of their properties.

The grant money comes from some of the profits that are made by the Crown of State, which is a huge portfolio of land and properties which are in the gift of the monarch.


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