Surging offshore wind farm income are set to offer King Charles an $152 million enhance from the taxpayer.
The monarch will rake within the money regardless of his Sovereign Grant charge being slashed in half, stories The Sun.
Funding of the monarchy is to be reduce from 25 per cent to 12 per cent of the Crown Estate’s internet income, the Treasury introduced.
But the change to the best way the taxpayer-funded grant is calculated comes as new offshore wind offers are set to push income above $1.9 billion. His cost for the subsequent yr and 2024-5 is mounted at $165 million.
But even beneath the brand new 12 per cent system it can climb by about $77 million in every of the next two years as surging revenue from wind farms push income from the Crown Estate by means of the $1.9 billion barrier.
The Sovereign Grant is used to pay for official royal duties.
Part of it, nonetheless, has been earmarked to pay for a $705 million, ten-year refurb of Buckingham Palace.
In January, Charles mentioned he wished wind farm income for use for “public good”.
Former Privy Council MP Norman Baker mentioned: “We still have a right royal rip-off.”
This article initially appeared in The Sun and was reproduced with permission.
Source: www.news.com.au
