Charles and the Duchy of Cornwall

[TLLK]

I think it's wonderful that Prince William is taking the time to meet with the key members associated with the Duchy before a full transition occurs.

They might be the ones who are going to be working with him to run the Duchy, so it's best that all of the team players have an opportunity to interact with each other prior to the transition.

[sara8150]

Prince Charles: Inside the Duchy of Cornwall (2019) - YouTube

Prince Charles: Inside the Duchy of Cornwall - No Royal feather-ruffling here

[wannable]

Part 2 was aired last night. For those who have no access to ITV, it's available in youtube.

[Princess Cassandra]

William not rocking the boat is not necessarily a good thing. I wonder if he'll put in the same time on the Duchy that his father did. I wish Charles would stop playing the "misunderstood" prince, it's getting tiresome to me.

I'm not worried about how William will do. He will work very hard, and he has no problem asking his father for advice. He is somewhat quiet and has been criticized about that (called boring), but he is industrious and has good judgment. I hope he understands that his father has entrepreneurial tendencies, which not everyone has. If he tries to emulate that and doesn't have the knack for it he will have some setbacks. But managing what has already been created, I believe, will not be a problem for him.

[wannable]

Omid Scobie claims, once William is POW, he will be the money provider of the Sussex's.

?The HeirPod - Royal News & Interviews: Secrets of the Queen?s dressmaker on Apple Podcasts
Minute 27.30

I believe Omid is wrong, the Sussex's moneys will be provided by the Duchy of Lancaster, once Charles is King.

[sandy]

I think Charles will have a firm grip on the purse strings. JMO.

[Princess Cassandra]

I think Charles will have a firm grip on the purse strings. JMO.

If you mean Duchy of Cornwall purse strings, I don't think he would have a legal right. But of course he would always advise, and if William is smart he will listen to the advice. The POW has made a financial success of it.

[TLLK]

Omid Scobie claims, once William is POW, he will be the money provider of the Sussex's.

?The HeirPod - Royal News & Interviews: Secrets of the Queen?s dressmaker on Apple Podcasts
Minute 27.30

I believe Omid is wrong, the Sussex's moneys will be provided by the Duchy of Lancaster, once Charles is King.

The only possible reason that I believe that this might be true is that I wouldn't be surprised if Charles and his Duchy of Cornwall team currently have some concerns/reservations about the profitability of the Duchy of Lancaster and the financial strains that  might be incurred by the addition of the Sussexes to the current list of BRF members who are supported by the DoL. The PoW and his team might believe that it would be better to have the  status quo maintained with the DoC continuing to fund the Sussexes.

[sandy]

I honestly don't think Charles will immediately give control of the money to William. Maybe as Charles ages he will give more over to William. I think everything has been already arranged well in advance.

[TLLK]

@sandy-When Charles' reign begins his income will be from the Duchy of Lancaster and his heir William will be in control of the Duchy of Cornwall. There are a few ceremonies involved, but the outcome should still be the same. In preparation for this eventuality,  Charles is now involved with the DoL and William with the DoC. The transition has already begun.  :nod:

Will Prince William Become Duke of Cornwall? How His Title Will Change Once Prince Charles Is King

Prince Charles is the current Duke of Cornwall but will drop his dukedom as soon as he ascends the throne.

Double post auto-merged: November 04, 2019, 06:15:52 PM

If you mean Duchy of Cornwall purse strings, I don't think he would have a legal right. But of course he would always advise, and if William is smart he will listen to the advice. The POW has made a financial success of it.

I agree. The PoW and his team that manage the Duchy of Cornwall have done a fantastic job of  increasing its value.

[Curryong]

The only possible reason that I believe that this might be true is that I wouldn't be surprised if Charles and his Duchy of Cornwall team currently have some concerns/reservations about the profitability of the Duchy of Lancaster and the financial strains that  might be incurred by the addition of the Sussexes to the current list of BRF members who are supported by the DoL. The PoW and his team might believe that it would be better to have the  status quo maintained with the DoC continuing to fund the Sussexes.

I agree. The Duchy of Cornwall is a great deal more profitable than that of Lancaster. The Queen is already assisting her cousins with their yearly incomes and will do so even after they retire. (And the Gloucesters are only in their 70s, with the Windsor life span they could be around for another twenty years.)

Then there are the Queen's children, Charles's siblings, who are also subsidised. We don't know whether Anne and/or Andrew will retire sometime in the next reign, per the slimming down of the monarchy, but, even if the Queen leaves each of the three a large lump sum in her will, more will be required.

It's only after the deaths of all the above that the Duchy of L will get some relief. It makes sense for the Duchy of Cornwall to be used to assist the new POW's only sibling during their father's reign.

Btw, I think the new Duke of Cornwall will receive his income immediately at the beginning of the new reign. I'm sure arrangements have already been made about taxation for that year etc. Of course Charles also subsidises his own private projects from Duchy money, which will have to be transferred over to the Duchy of Lancaster.

[TLLK]

@Curryong- Yes the Duke of Gloucester's mother lived longer than any other member of the BRF so he's truly blessed with genetic longevity! I wouldn't be surprised if the current Cornwall team is considering how to improve the DoL.  Also I have to wonder if a "golden handshake" retirement package has been already earmarked for the Kents, Princess Alexandra and the Gloucesters from the DoL. Currently their subsidized housing is dependent upon their work for the Queen and country, but both Edward and Alexandra have had significant health issues in recent years. TBH I believe it would be better if they could all retire when QEII's reign ends with housing, etc..Edward and Richard both gave up their careers to assist Elizabeth and I doubt that she'd like to see her cousins left without a home.

Going forward: the King/Queen would receive their funding from the Sovereign's Grant but undoubtedly some arrangement will exist to fund the Princess Royal, DoY and the Wessexes' royal activities from the DoL. With the DoC being far more profitable, it does make sense to have the current funding arrangement continuing with the future Duke of Cornwall covering the expenses for himself, Catherine and the Sussexes.

[Princess Cassandra]

I agree. The Duchy of Cornwall is a great deal more profitable than that of Lancaster. The Queen is already assisting her cousins with their yearly incomes and will do so even after they retire. (And the Gloucesters are only in their 70s, with the Windsor life span they could be around for another twenty years.)

Then there are the Queen's children, Charles's siblings, who are also subsidised. We don't know whether Anne and/or Andrew will retire sometime in the next reign, per the slimming down of the monarchy, but, even if the Queen leaves each of the three a large lump sum in her will, more will be required.

It's only after the deaths of all the above that the Duchy of L will get some relief. It makes sense for the Duchy of Cornwall to be used to assist the new POW's only sibling during their father's reign.

Btw, I think the new Duke of Cornwall will receive his income immediately at the beginning of the new reign. I'm sure arrangements have already been made about taxation for that year etc. Of course Charles also subsidises his own private projects from Duchy money, which will have to be transferred over to the Duchy of Lancaster.

This all makes sense, except the last sentence, because Charles will no longer be doing projects. He said so in an interview within the last year. He knows his way of life and freedom to pursue projects will end, and he got a bit gruff when the interviewer asked for the second time if his life would still include projects that support his priorities and beliefs (not the exact words of the interviewer) and he quickly and gruffly spoke out, "No, it won't!!!" He went on to say he knows his life will change and he won't have the freedom to do what he wants with his time. So, there will not be a need to transfer over the cost of his current projects to the DofL.

[Curryong]

Well, his major projects may well be coming to an end ie in The Princes Trust (though it may go on in another form) and Dumfries House, for which he was the driving force.

Maybe I should have said Charles's 'enthusiasms' or support for projects near to his heart like countryside sanctuaries for red squirrels, which have been decimated by grey squirrel foreign invaders, and similar small projects.

[Princess Cassandra]

I forgot about those squirrels LOL!  Although he didn't say it in the interview, another reason is that he will no longer have legal use of DOC funds to do projects like he does now. They have already created a special non-profit to run the Princes' Trust with all the administrative staff needed. He is trying to do the same with Dumfries House and those related projects. DOL funds are used for other things and the government keeps threatening to take them away. Perhaps he will try to build them up, but who knows. He also noted that he understands he can't be opinionated and use his position to influence. How he must be dreading that!

[amabel]

I missed the second part of the programme due to being ill.. will try to find it on youtube. I was interested in William's take on the Duchy, and his role in taking over...

[Princess Cassandra]

I missed the second part of the programme due to being ill.. will try to find it on youtube. I was interested in William's take on the Duchy, and his role in taking over...

Missed you and hope you are fully recovered!  Just noting that the interview I was referring to was the one for his 70th birthday last year. I think it was towards the end that he was asked if he would be expressing his opinions and doing projects, etc.

[PrincessOfPeace]

The Duchy of Cornwalls annual report reveals that, during the Coronavirus Pandemic, Executive Committee has been meeting weekly to track the impact of the lockdown on the duchy's tenants and their businesses.

The Secretary of the Duchy of Cornwall, Alastair Martin, has been updating Prince Charles & Prince William every two weeks on what is happening in the Duchy during the pandemic.

Prince Charles' Duchy of Cornwall could suffer 'significant' drop in income, report warns

Prince Charles to struggle to fund Harry and Meghan as his annual income takes major cut | Royal | News | Express.co.uk

Report: https://duchyofcornwall.org/assets/images/DuchyOfCornwallIAR2020.pdf

[wannable]

The Duchy of Cornwall Publishes its Integrated Annual Report

he Duchy of Cornwall has today published its Integrated Annual Report for year ending March 31st 2021.

In a year that has presented significant challenges for so many and in which the Duchy?s revenue surplus has decreased more than 8% on last year, the estate has continued to support its tenants and their communities without availing itself of government support funding. Rent deferrals were agreed for those suffering the greatest financial hardship as a result of loss of tourism and hospitality in areas such as the Isles of Scilly and Cornwall, and Duchy Land Stewards maintained close contact with businesses and residents throughout the year to offer help and advice.

In his introductory letter to the report, Alastair Martin, Secretary and Keeper of the Records says, ?I am very grateful to all Duchy staff for their work under such difficult circumstances. They showed great versatility in adapting remarkably quickly to new working arrangements, from home, at the office or at one of our trading enterprises. We have delivered against our strategic objectives, supported our tenants, protected our income and developed our net-zero carbon agenda. Looking forward, with the pandemic restrictions lifting, we have a positive outlook and are optimistic about the year ahead.?

This is the Duchy?s fifth Integrated report and complies with the Framework of the International Integrated Reporting Council (IIRC). This framework helps the Duchy explain how it creates value in the short, medium and long term, for a range of stakeholders.  It includes details of how the decisions made in the course of meeting commercial responsibilities also create positive, long term value for local communities, the economy and the natural environment. 

ENDS

Notes to Editors

The Duchy of Cornwall is a private estate established by Edward III in 1337 to provide an income for the heir to the throne. The Duchy has been run under the stewardship of The Prince of Wales, the current Duke of Cornwall, since 1969. He is the longest serving Duke of Cornwall in history and 2019 marked his 50th year in charge. The Duchy provides an annual income which The Prince uses to support himself, his immediate family, as well as his philanthropic work, which raises over ?100m annually for a variety of good causes. The Prince voluntarily pays income tax on all revenue from the estate. The Duchy is run in accordance with The Prince?s own social and environmental values. He ensures that, as well as providing him with an income, the estate must also focus on supporting the communities who live and work there, as well as protecting the land itself for future generations. This dual strategy has been at the heart of The Prince?s vision for the last five decades and makes the estate unique amongst other similar organisations.

The Duchy of Cornwall 2020/21 Integrated Annual Report is available in full here: Integrated Annual Reports | The Duchy of Cornwall

[wannable]

[Princess Cassandra]

The Duchy of Cornwall Publishes its Integrated Annual Report

he Duchy of Cornwall has today published its Integrated Annual Report for year ending March 31st 2021.

In a year that has presented significant challenges for so many and in which the Duchy?s revenue surplus has decreased more than 8% on last year, the estate has continued to support its tenants and their communities without availing itself of government support funding. Rent deferrals were agreed for those suffering the greatest financial hardship as a result of loss of tourism and hospitality in areas such as the Isles of Scilly and Cornwall, and Duchy Land Stewards maintained close contact with businesses and residents throughout the year to offer help and advice.

In his introductory letter to the report, Alastair Martin, Secretary and Keeper of the Records says, ?I am very grateful to all Duchy staff for their work under such difficult circumstances. They showed great versatility in adapting remarkably quickly to new working arrangements, from home, at the office or at one of our trading enterprises. We have delivered against our strategic objectives, supported our tenants, protected our income and developed our net-zero carbon agenda. Looking forward, with the pandemic restrictions lifting, we have a positive outlook and are optimistic about the year ahead.?

This is the Duchy?s fifth Integrated report and complies with the Framework of the International Integrated Reporting Council (IIRC). This framework helps the Duchy explain how it creates value in the short, medium and long term, for a range of stakeholders.  It includes details of how the decisions made in the course of meeting commercial responsibilities also create positive, long term value for local communities, the economy and the natural environment. 

ENDS

Notes to Editors

The Duchy of Cornwall is a private estate established by Edward III in 1337 to provide an income for the heir to the throne. The Duchy has been run under the stewardship of The Prince of Wales, the current Duke of Cornwall, since 1969. He is the longest serving Duke of Cornwall in history and 2019 marked his 50th year in charge. The Duchy provides an annual income which The Prince uses to support himself, his immediate family, as well as his philanthropic work, which raises over ?100m annually for a variety of good causes. The Prince voluntarily pays income tax on all revenue from the estate. The Duchy is run in accordance with The Prince?s own social and environmental values. He ensures that, as well as providing him with an income, the estate must also focus on supporting the communities who live and work there, as well as protecting the land itself for future generations. This dual strategy has been at the heart of The Prince?s vision for the last five decades and makes the estate unique amongst other similar organisations.

The Duchy of Cornwall 2020/21 Integrated Annual Report is available in full here: Integrated Annual Reports | The Duchy of Cornwall

I feel sorry for the folks who keep track of all the complex information that backs up this report every year! 

[TLLK]

Prince Charles dedicates new woodland in the heart of his Duchy of Cornwall ? Royal Central

As the Jubilee year continues and spring planting season comes to an end, the Prince of Wales visited the Royal British Legion Centenary Woodland in Newquay to dedicate a woodland to the initiative commemorating The Queen?s Platinum Jubilee.

The Duchy of Cornwall planted 100 trees specially chosen to handle Newquay?s climate, a city with significant rainfall. The woodland is a unique space where visitors can reflect and remember the service and sacrifice of the British Armed Forces for future generations. The Royal British Legion, or the British Legion, is a charity providing financial, social, and emotional support to members and veterans of the British Armed Forces as well as their families.

[PrincessOfPeace]

This year, the Duchy of Cornwall will plant 70 groups of 70 trees to mark The Prince's 70th anniversary as Duke of Cornwall.

His Royal Highness at the very first tree planting in Llwynywermod, Wales.

https://twitter.com/ClarenceHouse/status/1505851999887187969?s=20&t=E3AEXvvNRfEjc1-ePLtgUg

[PrincessOfPeace]

The Prince of Wales as Patron and the Duchess of Cornwall attend the Royal Cornwall Show 2022 in Wadebridge today:

Bilder und Fotos - Getty Images

[TLLK]

The PoW and DssoC are in Cornwall this week. Pictures from their first day as the couple visit the village of Mousehole.

Bilder und Fotos - Getty Images