Public funding for King Charles III and royals has been recalculated due to windfarm deal profits

By SYLVIA HUI
Associated Press

LONDON (AP) — The U.K. Treasury says the amount of public funding for King Charles III and the royal family’s official duties has been recalculated for next year because of an unexpected profit boost from offshore wind farms on the monarch’s Crown Estate. Treasury officials say they will halve the proportion of the crown estate’s profits paid to the royals from 25% in recent years to 12% next year. The Treasury said that means the monarchy’s budget next year will remain the same as this year, at 86.3 million pounds, because it will not receive an extra 24 million pounds it would have done were the rate to stay the same. The money will instead be used to fund “vital public services for the benefit of the nation.”