A thread dedicated to The Crown Estate, Sovereign's Grant and the Duchy of Lancaster. All related to the funding for the monarch and the British Monarchy.
The Crown Estate
Our history | Our history (https://www.thecrownestate.co.uk/en-gb/about-us/our-history/)
Sovereign Grant, Duchy of Lancaster information
https://www.royal.uk/royal-finances-0
This affects the Queen so I've put it in Elizabeth's threads rather than anywhere else. Hope that's all right.
Twitter (https://mobile.twitter.com/Daniel_J_Martin/status/1308877383966035969)
From the policy director of the DM
EXC: Treasury to spend millions propping up Queen?s income after her property loses money thanks to coronavirus
Image
Double post auto-merged: September 24, 2020, 04:48:57 AM
From a Town and Country article, quoting from a new book out this month, called The Queen's True Worth. Out on Amazon as well, so I have it in my sights!
The High Cost of Queen Elizabeth?s Country Homes
A new book delves into Her Majesty's finances. (And you thought your bills were high.)
BY DAVID MCCLURE
SEP 19, 2020
round trip through scotlandONEWORLD PICTUREGETTY IMAGES
Running a second home can be a drain on resources for anyone, but when you?re the Queen of England and your ?little place in the country? turns out to be the two sprawling estates of Balmoral (46,000 acres in Scotland) and Sandringham (20,000 acres in Norfolk, England), the figures can be frightening.
So, how does Her Majesty manage to balance the books and how much of her wealth is tied in her country homes? While researching a new book on her private fortune, I came up with some startling answers.
The Queen's True Worth: Unravelling the public & private finances of Queen Elizabeth II
amazon.com
SHOP NOW
Her Scottish retreat alone costs more than $4 million a year to maintain, but perhaps the most surprising revelation is that the entire Balmoral estate has recently been registered in the name of a commercial trust called Canup Ltd., whose directors include the Queen?s Treasurer, the head of the Royal Household, and the local land agent (Canup is the name of the nearby rocky hill that was the source of the granite used to build the original castle). The Scottish property has been in a family trust since Queen Victoria?s time; so, why transfer it to a more commercial financial vehicle now? The palace won?t say nor will the Scottish land registry although it did point out that formal registration is always sensible ?to affirm good title.?
royal angler
The Queen Mum, photographed here in New Zealand, was an avid angler.
CENTRAL PRESSGETTY IMAGES
Is it simply a question of a 94-year-old monarch tidying up any ownership issues prior to passing it on to the Prince of Wales? A clue to the mystery lies in the way the main title registration (ABN130387) also includes a subsection on fishing rights. A linked title (ABN130388) refers to the ?Separate Tenement: Salmon Fishing.?
Balmoral is blessed with some of the finest salmon fishing in Scotland; the Queen Mother famously cast her rod in the nearby river Muick, and now the public is being reeled in too with the offer of fishing in the same spot for $150 a day. In other words, it?s a way the grounds can be used to offset the estate?s high overhead. And the inclusion of salmon rights, which can sometimes be worth as much as $1 million, could help boost the market value of the entire estate to over $50 million.
The Royal Sheep Farm
Do you think that it is a good idea that any unspent Sovereign Grant is put into a reserve fund?
The Royal Household today published its annual financial statement, the Sovereign Grant Report, for the financial year 2020-21.
The Sovereign Grant is the funding provided to support the official duties of The Queen and maintain the Occupied Royal Palaces. It also includes a dedicated amount to fund the ten-year Reservicing of Buckingham Palace, a major overhaul of essential building services including electrical wiring, pipework, boilers and generators.
You can download the documents by using the following links:
Sovereign Grant Report 2020-2021, Summary
Full Sovereign Grant Report 2020-2021
Sovereign Grant Report 2020-2021, Travel appendix
Financial reports 2020-21 | The Royal Family (https://www.royal.uk//financial-reports-2020-21)
Richard Palmer
@RoyalReporter
It?s quite difficult to get everything into the paper from royal finance day but hopefully we?ve given it a good go today. Charles?s accounts showing payments to the Sussexes continued in the year to March 2021 got top billing in most papers but the diversity story is important.
The palace currently has no plans to employ a Diversity Tsar but aides haven?t ruled it out. Interesting that Clarence House gave diversity figures but Kensington Palace declined. Both BP and CH admitted they had much work to do to employ more people from ethnic minorities.
Royal Family's accounts
85.9 million - The total taxpayer-funded Sovereign Grant, made up of 51.5 million for the 'core' funding and an extra 34.4 million for the reservicing of Buckingham Palace.
87.5 million - Taxpayer funds spent by the monarchy - a rise of 18.1 million or 26% from 69.4 million in 2019/2020.
1.29 - Cost per person in the UK of funding the total Sovereign Grant.
77p - Cost per person of the 'core' part of the Sovereign Grant for official duties - not including funds for the long-term Buckingham Palace works.
2.4 million - Amount the Sussexes paid back with regard to Frogmore Cottage.
113 - Official engagements carried out by the Queen in the last financial year - 183 less or a decline of 62% compared to the 296 carried out in 2019-2020.
Almost 1,470 - Official engagements by the royals in the UK and overseas.
508 - Full-time equivalent staff paid for from the Sovereign Grant, with the wage bill coming to 24.1 million.
900,000 - Cost of housekeeping and hospitality for the Royal Household - a fall of ?1.7 million or 65%.
3.2 million - Cost of official royal travel, a fall of 2.1 million - 40% - from 5.3 million the previous year.
4.452 million - The Prince of Wales's bill for the Sussexes and the Cambridges' activities, plus Charles's other expenditure including his capital expenditure and transfer to reserves - a drop of 1.2 million in the year after Harry and Meghan quit.
20.4 million - Charles's annual private income from the Duchy of Cornwall landed estate.
3.063 million - Charles's non-official expenditure for himself and his family including salary costs of valets and farm workers and a proportion of costs for chefs and gardeners.
172,000 - Official costs of Charles's London office and official residence Clarence House.
5 million - Charles's tax bill.
47,965 - Cost of travel for William and Kate's royal train tour to Scotland.
42,486 - Travel costs for the Prince of Wales and Duchess of Cornwall's official visit to Germany.
A former Lib Dem MP discusses the Financial Statement for 2020/2021 and suggests its high time the Royal Family does some belt-tightening in the future. And a look at some of these figures would make many agree.
Royal spending has gone up again - so why can't we save on our gracious Queen? (https://www.thesun.co.uk/news/15387739/norman-baker-royal-spending-goes-up/?rec_article=true)
Quote from: wannable on June 24, 2021, 12:52:24 PM
Royal Family's accounts
85.9 million - The total taxpayer-funded Sovereign Grant, made up of 51.5 million for the 'core' funding and an extra 34.4 million for the reservicing of Buckingham Palace.
87.5 million - Taxpayer funds spent by the monarchy - a rise of 18.1 million or 26% from 69.4 million in 2019/2020.
1.29 - Cost per person in the UK of funding the total Sovereign Grant.
77p - Cost per person of the 'core' part of the Sovereign Grant for official duties - not including funds for the long-term Buckingham Palace works.
2.4 million - Amount the Sussexes paid back with regard to Frogmore Cottage.
113 - Official engagements carried out by the Queen in the last financial year - 183 less or a decline of 62% compared to the 296 carried out in 2019-2020.
Almost 1,470 - Official engagements by the royals in the UK and overseas.
508 - Full-time equivalent staff paid for from the Sovereign Grant, with the wage bill coming to 24.1 million.
900,000 - Cost of housekeeping and hospitality for the Royal Household - a fall of ?1.7 million or 65%.
3.2 million - Cost of official royal travel, a fall of 2.1 million - 40% - from 5.3 million the previous year.
4.452 million - The Prince of Wales's bill for the Sussexes and the Cambridges' activities, plus Charles's other expenditure including his capital expenditure and transfer to reserves - a drop of 1.2 million in the year after Harry and Meghan quit.
20.4 million - Charles's annual private income from the Duchy of Cornwall landed estate.
3.063 million - Charles's non-official expenditure for himself and his family including salary costs of valets and farm workers and a proportion of costs for chefs and gardeners.
172,000 - Official costs of Charles's London office and official residence Clarence House.
5 million - Charles's tax bill.
47,965 - Cost of travel for William and Kate's royal train tour to Scotland.
42,486 - Travel costs for the Prince of Wales and Duchess of Cornwall's official visit to Germany.
For the bolded...OUCH! If only various governments had opted to take on the renovation in stages things might not have gotten so very bad at BP.
I agree. The BP renovations are a project that has been put off since before the Blair govt years due to the cost and ongoing readjustments to royal finances. I like the way royal palaces and artefact preservation like coaches etc are tackled in the Netherlands. It?s no use British Govt departments throwing their hands in the air as seems to have been done for over thirty years in Britain. Postponing it does nothing. It only worsens a problem with very old buildings.
Tatler looked at some of the the ongoing renovations last year.
Inside Buckingham Palace's ?369 million renovation - including hand-stripping antique wallpaper | Tatler (https://www.tatler.com/article/inside-buckingham-palace-refurbishment)
1.29 - Cost per person in the UK of funding the total Sovereign Grant.
77p - Cost per person of the 'core' part of the Sovereign Grant for official duties - not including funds for the long-term Buckingham Palace works.
This of course doesn?t include Duchy of Lancaster money.
I have never met anyone in Britain who believes that the cost of the monarchy works out at less than two pounds sterling per person per year. The cost of security alone around the Royal Palaces and other residences would at least triple that. Not to mention the staff employed at Court and the transport including helicopters.
Even RRs have chuckled at those sort of estimates in the past on their Twitter pages. Years ago Palmer suggested that it was almost certainly much much higher than any figure suggested publicly. In fact I would suggest that if the true figures were ever seen there would be a widespread protest, especially by the large sector of the British public who are either anti-monarchy or couldn?t care less about the BRF.
The Royal Household today published its annual financial statement, the Sovereign Grant Report, for the financial year 2021-22.
Financial reports 2021-22 | The Royal Family (https://www.royal.uk/financial-reports-2021-22)
Queen Elizabeth's Responsibilities Reduced Amid Ongoing Mobility Issues | Vanity Fair (https://www.vanityfair.com/style/2022/07/queen-elizabeth-role-reduced-mobility-issues-prince-charles-more-responsibilities?utm_source=nl&utm_brand=vf&utm_mailing=VF_RW_070522&utm_medium=email&bxid=5c97bc046c28c774ca37adfc&cndid=56778086&hasha=760b355e0ed211cf75b8fe73b96cc08d&hashb=332549f660fa292314c4c2e5511ad5f57918a1c0&hashc=aa2b8c29f9f505f43f328f09bdc5ebf88e83e43daba4545d4e1ffb2fcd8cf2c2&esrc=rylinline&mbid=CRMVYF012019&source=EDT_VYF_NEWSLETTER_0_ROYAL_WATCH_ZZ&utm_campaign=VF_RW_070522&utm_term=VYF_Royal_Watch)
According to Vanity Fair
A very wise decision on KCIII's part to have the profits redirected from funding the monarchy to the public.
King Charles redirects ?1bn windfarm profits towards ?public good? - Pehal News (https://www.pehalnews.in/king-charles-redirects-1bn-windfarm-profits-towards-public-good/2765112/)
Quotehe King has requested for earnings from a ?1bn-a-year crown property windfarm deal for use for the ?wider public good? moderately than as a funding enhance for the monarchy.
Below the taxpayer-funded sovereign grant, which is presently ?86.3m a 12 months, the King receives 25% of the crown property?s annual surplus, which incorporates an additional 10% for the refurbishment of Buckingham Palace.
Six new offshore wind power lease agreements, introduced by the crown property on Thursday, have generated a significant windfall for the property, which might normally result in a leap within the monarchy?s official funding.
However the king, who highlighted the price of residing disaster in his Christmas message, has requested that the additional funds ?be directed for wider public good?, as an alternative of to the sovereign grant, at a time when many are going through monetary hardship.
It?s not clear as to the precise quantity of taxpayer funding the king has handed up, however it?s prone to be many tens of millions.
King Charles redirects ?1bn windfarm profits towards ?public good? | King Charles III | The Guardian (https://www.theguardian.com/uk-news/2023/jan/19/king-charles-redirects-1bn-windfarm-profits-towards-public-good)
QuoteThe King has asked for profits from a ?1bn-a-year crown estate windfarm deal to be used for the ?wider public good? rather than as a funding boost for the monarchy.
Under the taxpayer-funded sovereign grant, which is currently ?86.3m a year, the King receives 25% of the crown estate?s annual surplus, which includes an extra 10% for the refurbishment of Buckingham Palace.
Six new offshore wind energy lease agreements, announced by the crown estate on Thursday, have generated a major windfall for the estate, which would usually lead to a jump in the monarchy?s official funding.
But the king, who highlighted the cost of living crisis in his Christmas message, has requested that the extra funds ?be directed for wider public good?, instead of to the sovereign grant, at a time when many are facing financial hardship.
It is not clear as to the exact amount of taxpayer funding the king has passed up, but it is likely to be many millions.
The crown estate ? an ancient portfolio of land and property ? belongs to the reigning monarch ?in right of the crown? but it is not their private property.
The monarch surrenders the revenue from the estate ? more than ?312m a year ? to the Treasury each year for the benefit of the nation?s finances, in exchange for the sovereign grant.
The king?s keeper of the privy purse, Sir Michael Stevens, who manages the royal household?s finances, has contacted the prime minister, Rishi Sunak, and the chancellor Jeremy Hunt ? his fellow royal trustees ? to ask for ?an appropriate reduction? in the percentage of crown estate profits used for the sovereign grant.
👌👍🙏💪
WOW...just WOW. amazing, this is so wonderful, amazing!
Fantastic PR move (and I?m sure also personally well-meaning) amidst all of the other craziness.
This is HMKCIII giving since September 2022
✔️ 1m donated to food banks
✔️ Cost of living bonuses paid to all Royal Household staff
✔️ Significant donation to The Fuel Bank Foundation to help pay energy bills
✔️ Diverts profits (windmills sovereign grant) amounting to 250m towards public good (crisis of living, therefore it will be for ''domestic'' use noted! Not international funding of war for example)
Source of listing: twitter user Countess Commonweath
How much of the Crown Estate King Charles is expected to divert to ?public good? ? Royal Central (https://royalcentral.co.uk/uk/king/how-much-of-the-crown-estate-king-charles-is-expected-to-divert-to-public-good-185793/)
QuoteKing Charles has asked for a surge in profits from ?1 billion worth of six new offshore Crown State wind farms to be used for ?wider public good.?
The Royal Household?s public funding is based on 25% of Crown Estate profits. The Crown Estate is an independently-run commercial business. Profits go to the treasury, which then serves as a benchmark for the level of public funding the royal family receives. Known as the Sovereign Grant, last year the profits were worth ?86.3 million.
During his Christmas speech, the monarch spoke on the pressures of the cost of living. He wants to reduce the percentage of Crown Estate profits kept by the treasury and, in return, use it for public spending.
Profits are expected to be significantly boosted by the deals with the six new offshore wind farms. The farms are collectively worth ?1 billion per year for at least three years in fees. Those fees come from firms buying to build wind farms on the Crown Estate offshore sites.
The Sovereign Grant is based on 25% of Crown Estate profits. This is a temporary increase compared to the usual 15%. The extra funding is being used for repairs and renovations at Buckingham Palace. The grant is also used to pay for the costs of working royals for things such as travel, upkeep of royal palaces, and official engagements.
A review of the percentage of Crown Estate profits going into royal funding is being reviewed with the treasury. A decision is expected to be made in the next few months.
Anti-monarchy campaigners, Republic, reject the move as a ?cynical PR to pre-empt a government decision to reduce the percentage.?Three new offshore wind farms are located off the North Wales, Cumbria, and Lancashire coast. There are then three in the North Sea off the Lincolnshire and Yorkshire coasts.
Once the sites are developed, the goal is for them to generate enough electricity for seven million homes. This will add to the existing 36 operational offshore wind farms on Crown Estates. Those sites are off the coasts of England, Wales, and Northern Ireland.
Curryong posted an interesting piece dated 18 September 2022 by NBC (USA) author Laura Clancey, royal contemporary expert.
She (Laura Clancey) is not misinforming or disinforming, but misguiding her readers for the lack of explaining, she casually jumps to a next 'money grabbing' making Charles sound like a Wall Street Wolf.
King Charles made the royal family richer as England struggles (https://www.nbcnews.com/think/opinion/king-charles-made-royal-family-richer-england-struggles-rcna48061)
Quote
Calculating an accurate net worth is so difficult because the royal finances are a closely kept secret. Any inheritance passed ?sovereign to sovereign? ? from Elizabeth to Charles, for example ? is exempt from inheritance tax, due to a unique arrangement passed by the United Kingdom's government in 1993 to preserve royal wealth.
This is actually a benefit for every UK citizen, not only sovereign to sovereign
https://bills.parliament.uk/publications/47263/documents/2126
Crown Estates and Sovereign Grant
Quote
This includes the Crown Estate, a vast portfolio of land and property with a reported 15.2 billion pounds in assets, which is held by the monarch ?in right of the Crown.? That means it is not personally owned by Elizabeth or Charles, but rather owned by the crown as an institution. The estate is made up of prime central London real estate, shopping malls, forests, foreshore and wind farms.
The monarchy is officially funded by a taxpayer-funded payment, the Sovereign Grant, an amount which is calculated from 15%-25% of the Crown Estate?s profit.
Laura doesn't explain to her readers, The King surrenders the entire revenue from The Crown Estate to the government. Laura doesn't explain the the Trustees of the Crown Estate, the Monarch isn't a member of the trustees, Laura doesn't explain to the readers that the Soverreign Grant is for the UPKEEP of the crown estate in use by the Monarch and his family, i.e. Buckingham Palace, Windsor Castle, other crown estate properties where the family do not use is responsibility of the crown estate. Laura doesn't explain that the Sovereign Grant also pays for official HM The King's UK Governement tours, coming from the Foreign and Trade Offices.
https://www.gov.uk/government/publications/sovereign-grant-act-2011-guidance/sovereign-grant-act-2011-guidance
The windfarm deal has it's math too which actually would ''reduce'' the amount of moneys for the Sovereign Grant.
Explanation:
Sovereign grant is 25% of the 100% Crown Estate year end revenue, IOW 25% goes to the SG, 75% UK Government Treasury where they decide where the 75% of money revenue goes to, including war.
By decreeing that the Windfarm revenue will go straight to 'domestic' crisis, which means GBP250 million, this amount IS NOT included in the 100% Crown Estate revenue, meaning that the SG 25% is lower and the 75% Treasury is also lower.
Quote from: wannable on January 25, 2023, 01:10:59 PM
The windfarm deal has it's math too which actually would ''reduce'' the amount of moneys for the Sovereign Grant.
Explanation:
Sovereign grant is 25% of the 100% Crown Estate year end revenue, IOW 25% goes to the SG, 75% UK Government Treasury where they decide where the 75% of money revenue goes to, including war.
By decreeing that the Windfarm revenue will go straight to 'domestic' crisis, which means GBP250 million, this amount IS NOT included in the 100% Crown Estate revenue, meaning that the SG 25% is lower and the 75% Treasury is also lower.
Thank you so very much for explaining the Windfarm revenue as I was told it only made the royal family richer, or something like that. Charles is a brilliant businessman, he took the Duchy of Cornwall and look at what it does today for the country and the people, there is no doubt in my mind that Charles wants what is best for the country as you can see the joy and happiness in his eyes when he is at events just having the time of his life laughing and joking with the people....He will make a brilliant king if given half the chance by those that are filled with jealousy and hate for anyone that has more then them.
Quote from: wannable on January 25, 2023, 12:44:00 PM
Curryong posted an interesting piece dated 18 September 2022 by NBC (USA) author Laura Clancey, royal contemporary expert.
She (Laura Clancey) is not misinforming or disinforming, but misguiding her readers for the lack of explaining, she casually jumps to a next 'money grabbing' making Charles sound like a Wall Street Wolf.
King Charles made the royal family richer as England struggles (https://www.nbcnews.com/think/opinion/king-charles-made-royal-family-richer-england-struggles-rcna48061)
This is actually a benefit for every UK citizen, not only sovereign to sovereign
https://bills.parliament.uk/publications/47263/documents/2126
Crown Estates and Sovereign Grant
Laura doesn't explain to her readers, The King surrenders the entire revenue from The Crown Estate to the government. Laura doesn't explain the the Trustees of the Crown Estate, the Monarch isn't a member of the trustees, Laura doesn't explain to the readers that the Soverreign Grant is for the UPKEEP of the crown estate in use by the Monarch and his family, i.e. Buckingham Palace, Windsor Castle, other crown estate properties where the family do not use is responsibility of the crown estate. Laura doesn't explain that the Sovereign Grant also pays for official HM The King's UK Governement tours, coming from the Foreign and Trade Offices.
https://www.gov.uk/government/publications/sovereign-grant-act-2011-guidance/sovereign-grant-act-2011-guidance
So this woman gets to prints her LIES and to make trouble for the royal family so that the monarchy will crumble under her feet......TYPICAL of those that are jealous in not being a royal and having BP as their home. And typical of those that so dislike Charles and William and everyone in the royal family here. As I have said before NOBODY on this earth is perfect except those that think they are right? Not everybody can be born into a royal family yet some marry into a royal family then gets MILLIONS of dollars and then leaves wanting more millions....typical of some in the human race.
The way she wrote it is ''misguided' opinion piece based on factual UK Parliamentary Law makings, BUT she commits the cardinal sin by being purposely FAULTY (hence misguided), so for non royal watchers with absolutely no knowledge of UK's inheritance tax, sovereign grant and crown estate, clicking on it, and taking it fully in, they'd very likely go to social media and spread the half baked thing.
Quote from: Nightowl on January 25, 2023, 07:40:14 PM
Thank you so very much for explaining the Windfarm revenue as I was told it only made the royal family richer, or something like that. Charles is a brilliant businessman, he took the Duchy of Cornwall and look at what it does today for the country and the people, there is no doubt in my mind that Charles wants what is best for the country as you can see the joy and happiness in his eyes when he is at events just having the time of his life laughing and joking with the people....He will make a brilliant king if given half the chance by those that are filled with jealousy and hate for anyone that has more then them.
The Windfarm simple math credit goes to the Financial Times, with no sly coating, straight and direct the Windfarm is part of the portfolio of the Crown Estate, but with Charles decree.....enter the simple math.
Twitter pursued over unpaid rent by King Charles's Crown Estate - The Washington Post (https://www.washingtonpost.com/world/2023/01/24/twitter-rent-london-crown-estate/?pwapi_token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJzdWJpZCI6IjQxNDAxNTUiLCJyZWFzb24iOiJnaWZ0IiwibmJmIjoxNjc0NjIyODAwLCJpc3MiOiJzdWJzY3JpcHRpb25zIiwiZXhwIjoxNjc1OTE4Nzk5LCJpYXQiOjE2NzQ2MjI4MDAsImp0aSI6IjNmMWU4MmQzLTQzZTAtNDM3Zi1iZmUzLTI0YmFjOGQxYmJlNyIsInVybCI6Imh0dHBzOi8vd3d3Lndhc2hpbmd0b25wb3N0LmNvbS93b3JsZC8yMDIzLzAxLzI0L3R3aXR0ZXItcmVudC1sb25kb24tY3Jvd24tZXN0YXRlLyJ9.IFfa5NgxdiJYeKcXqpgqA1iiWdoYnhgrd6dcVlPq3-I)
QuoteLONDON ? The Crown Estate, which manages the British monarchy?s vast property portfolio, launched court proceedings against Twitter over unpaid rent at the social media giant?s office space in central London?s West End neighborhood, it said in a statement Tuesday.
Twitter auctions office equipment, coffee machines as Musk slims company (I have to admit the democratic inclined media are fixated with Elon Musk. All worldwide companies are 'slimming down' and unreported; Amazon to the 10 thousands, Google to the thousands)
^They will probably move to a smaller facility.
Quote
He has never had a strong desire to live at Windsor Castle, largely because of the noise of aircraft flying overhead to Heathrow.
But the King appears to have had a change of heart in recent months and is busy putting his unique stamp on the late Queen's Berkshire estate.
Workmen have been seen sprucing up Queen Elizabeth's private apartments, while staff have been putting some of her belongings in storage and bringing in many of the new monarch's favourite pieces of art and antiques.
In the grounds, Charles, 74, has also been expanding his eco-credentials.
New electric car charging points are being installed at several spots across the Windsor estate and thousands of new saplings planted.
He has poured heart and soul into its gardens and estate, which are now a visitor attraction in their own right and have raised more than GBP7million for charity so far.
Multiple sources said the King has now started spending an increasing amount of time at Windsor.
Rebecca English
Daily Mail
Charles begins renovations at Windsor Castle after not wanting to spend time there due to Heathrow | Daily Mail Online (https://www.dailymail.co.uk/news/article-11827311/King-Charles-begins-renovations-Windsor-Castle-not-wanting-live-Heathrow.html)
^ Several new pictures of an old building construction site to a new building, thousands of new trees too.
HM KCIII will always do well with resources available to him. He certainly showed this with the Duchy of Cornwall. I'm looking forward to all he will do with these funding resources. But unfortunately, there will always be people who misunderstand and are quick to criticize those who "do" rather than "talk".
Quote from: wannable on March 06, 2023, 09:25:40 PM
Rebecca English
Daily Mail
Charles begins renovations at Windsor Castle after not wanting to spend time there due to Heathrow | Daily Mail Online (https://www.dailymail.co.uk/news/article-11827311/King-Charles-begins-renovations-Windsor-Castle-not-wanting-live-Heathrow.html)
^ Several new pictures of an old building construction site to a new building, thousands of new trees too.
Definitely not surprised to see that Charles is planting more trees on the estate.
Quote from: Princess Cassandra on March 07, 2023, 02:57:02 AM
HM KCIII will always do well with resources available to him. He certainly showed this with the Duchy of Cornwall. I'm looking forward to all he will do with these funding resources. But unfortunately, there will always be people who misunderstand and are quick to criticize those who "do" rather than "talk".
I have always felt as did my sister that Charles is still highly underestimated, I think he is a brilliant businessman because of how he has turned the Duchy of Cornwall into a business that has helped so many people. Sure there are mistakes made as nothing is perfect yet from all that I have read the Duchy is a money making machine that can and does help the people. I think he will be a fabulous king as he has his mother's sparkling blue eyes that just lights up when he is among the people, more so even more for him then his mother at times. His sense of humor really comes alive when he is at events talking, drinking and eating whatever is served.
Don?t know whether this should go here or not, but it is about King Charles?s properties so maybe it?s OK.
King Charles has (according to this Telegraph article) started to process of selling off, leasing and otherwise rationalising the family properties. The only property he (and the BRF in general) has in Wales is the first to go. Great, the people of the Principality must be so proud! Imo it?s Sandringham, and increasingly Balmoral, he should be taking a stern look at. William, although POW, has no plans to buy a property there or take this one over. Instead, he?ll stay in hotels if he is in Wales for engagements. That?s likely to increase the BRF popularity, as hoteliers will be excited, lol.
King Charles gives up his Welsh home as he downsizes property portfolio (https://archive.md/lyT7e)
Is this the correct thread? If it isn?t could this report by BBC and link to the Sov Grant report I linked PLEASE be put in the right thread. Thank you.
https://www.bbc.com/news/uk-66045447
The running costs of the monarchy - such as for official visits and residences - are funded by the "Sovereign Grant", currently calculated as being 25% of the profits of the Crown Estate.
The annual accounts for 2022-23 show this funding was ?86.3m, the same as the previous year.
But spending was almost ?21m higher than the Sovereign Grant, with palace officials attributing the extra costs to:
the continuing renovation of Buckingham Palace
extra expenses for the queen's funeral
the King's accession
rising inflation
The 10-year ?369m project to repair Buckingham Palace had ?34.5m allocated this year.
The public funding also covers the cost of official royal travel and visits, which included:
more than ?1m on 179 helicopter journeys
almost ?32,000 when the King used the royal train for a two-day tour from Ayr to Manchester
?187,000 for the then Prince of Wales' visit to Rwanda for the Commonwealth Heads of Government Meeting
?146,000 for the King's tour of Germany on his inaugural state visit as monarch
But most of the visits were much more low-key, with:
2,700 engagements through the year
95,000 guests attending events in royal residences
Paying visitors to royal residences helped to offset some of the costs, with ?9.8m in income earned - still less than half the pre-Covid levels.
The Sovereign Grant Report 2022-23.
https://www.royal.uk/sites/default/files/documents/2023-06/Sovereign%20Grant%20Report%202022-23.pdf
And, with Frogmore Cottage vacated nothing there for the media to bash the Sussexes about. All the expenses for that twelve months, including over a million for helicopter use, and for use of the Royal Train, are on the current working members of the BRF and their staff and courtiers.
And from the BBC report.
On average, about 500 Royal Household staff were being paid by the Sovereign Grant during the year - and there were questions about efforts to increase diversity, with the proportion belonging to ethnic minorities, 9.7%, showing no change since last year.
Royal staff received training under a "diversity and inclusion strategy", with concerns having been raised after black British charity founder Ngozi Fulani faced repeated questions about where she was "really from", at a Buckingham Palace reception.
In reference to the Sovereign Grant, Frogmore
Harry will need a permanent address in the UK if he is still interested in being a counsellor of state.
@Curryong-Thank you for providing the link to the report for the past year. 2022 was a year that saw HLM celebrate her Platinum Jubilee and then her death/funeral. It also included the changes to the royal households and of course the ascension of King Charles III. Repair/renovation work continues at BP as well.
I'm not surprised that there was an increase in spending.
The Royal Family reveals jump in spending in year of history and change ? Royal Central (https://royalcentral.co.uk/uk/the-royal-family-reveals-jump-in-spending-in-year-of-history-and-change-191118/)
QuoteThe latest Sovereign Grant report shows that royal expenditure went up in the last financial year.
In the period between April 2022 and April 2023, a total of ?107.5 million was spent, a 5% rise compared to the year before.
The Sovereign Grant covered ?86.3 million of that. The rest was taken from reserve funds.
The increased total reflects a time described by Sir Michael Stevens, Keeper of the Privy Purse, as ?a year of grief, change and celebration, the like of which our nation has not witnessed for seven decades.?
The period in this report includes the Platinum Jubilee of Queen Elizabeth II as well as the change of reign to King Charles III.
The Jubilee resulted in costs of ?700,000 while Buckingham Palace covered an outlay of ?1.6 million related to the funeral of Queen Elizabeth II in September 2022.
The costs this year also include ongoing redevelopment works at Buckingham Palace.
The report also shows that the Royal Family cut back on other property maintenance and heating costs as inflation rose.
The Sovereign Grant is paid from the Crown Estate. All its profits go to the Treasury which then releases a percentage of them annually to the Royal Family. The money is used by The King and members of the Royal Family to cover their working expenses.
Quote from: wannable on June 29, 2023, 12:31:06 PM
In reference to the Sovereign Grant, Frogmore
Harry will need a permanent address in the UK if he is still interested in being a counsellor of state.
Yes it was confirmed that the couple have completely moved out of FC.
Harry and Meghan have left Frogmore Cottage, palace confirms | UK News | Sky News (https://news.sky.com/story/harry-and-meghan-have-left-frogmore-cottage-palace-confirms-12911529)
QuoteAt the annual Sovereign Grant account briefing on royal finances, Sir Michael Stevens, keeper of the Privy Purse, said: "We can confirm that the Duke and Duchess of Sussex have vacated Frogmore Cottage.
"We will not be going into any detail on those arrangements here.
"Safe to say that, as has previously been stated, the duke and duchess have paid for the expenditure incurred by the Sovereign Grant in relation to the renovation of Frogmore Cottage, thus leaving the Crown with a greatly enhanced asset."
^ I'll be posting in my own words or copy/paste interesting tweets from financial, political, constitutional, royal reporting experts related to the Sovereign Grant.
*****
The Royal Family
@royalfamily13h
The Royal Household's annual financial statement - the Sovereign Grant Report - for the financial year 2022-23 is now available online.
^ The first time the BRF make their 'own' availability statement, previously a note from BP would be sent to media outlets notifying the release of their financial statements.
According to the Sovereign Grant, Natalie Barrows is the Interim Private Secretary of the Princess of Wales since November 2022.
(https://s.yimg.com/ny/api/res/1.2/BcM6KhzQUoU3Y6fgmWbCUw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTYyMDtoPTYyMA--/https://media.zenfs.com/en-CA/homerun/ca.hellomagazine.com/991596dadb61dc1559b550de8431e130)
This is the hardcover - front page, printed version of the Sovereign Grant 2022-2023
(Never before has it been shown publicly in past SG's OR the info was printed and binded. I personally like that HMKCIII is making these financial statements a long lasting hardbook for personal and public libraries)
(https://pbs.twimg.com/media/Fzys1fWXsAELlnj?format=jpg&name=small)
Just this tidbit of news from Richard Eden, the part of ''private estates'' Balmoral rather than the thread suggests to post crown estates, sg, grant, dol.
The rest of the article from Richard Eden's perspective is Prince Andrew's home and holiday home situation, which will be posted in his board.
King Charles III Balmoral
Quote
I can disclose that King Charles has decided to keep Balmoral open to the public for an extra two weeks.
This will bring significant new revenue into the estate,' says my man in the kilt and sporran.
Queen Elizabeth would always begin her summer holidays at her beloved Balmoral on the last weekend of July.
t's understood that the King will continue his own tradition of spending the first week of August at the Castle of Mey, in Caithness, the former home of his grandmother, Queen Elizabeth the Queen Mother.
He may then head to Birkhall, his home on the Balmoral Estate, while he waits for the castle to close to tourists.
Balmoral and its 50,000 acres cost around GBP 3million a year to run - and opening it up as a tourist attraction between April and the end of July attracts over 70,000 tourists. But the tourist income only meets around half the estate's costs.
Balmoral is privately owned by the King, who meets its costs personally.
However, the estate, which was bought by Queen Victoria's husband, Prince Albert, in 1852, will now be open to the public daily until August 16.
RICHARD EDEN: Prince Andrew faces losing his summer holiday home at Balmoral | Daily Mail Online (https://www.dailymail.co.uk/tvshowbiz/article-12283993/RICHARD-EDEN-Prince-Andrew-faces-losing-summer-holiday-home-Balmoral.html)
Regardless of what happens to Andrew, and I really couldn?t care less, but imo for what it?s worth, I cannot see Charles kicking Andrew out of his place, largely because his nieces come up to Balmoral every summer, especially Beatrice, and the whole York family stay together, including Fergie.
However, the bigger problem for Charles, then William and any who come after him, is that Balmoral is simply not paying for itself. You can be as super-efficient as you like, and I believe that the agricultural estate advisors are, you can pack visitors in as much as possible between April and late September. It doesn?t matter.
The facts are these. Balmoral is over a hundred and seventy years old. It needs continuous maintenance. In spite of the love Victoria and the late Queen and Charles?s had/have for the place, it is situated in an area of the British Isles to which few tourists travel in the winter, even Scots.
They wouldn?t and won?t come for exhibitions in Jan our Feb or Xmas shows in December. The weather in the winter in that part of Scotland is absolutely icy. I had a relative who lived in Inverness and every winter between November and March she used to stay with her sister in Devon. Of all the royal properties, Balmoral is the biggest financial drain, and official funds can?t be spent on it. I can actually see Birkhall being retained in William?s time and the estate being divided, with harsh decisions having to be made about the castle.
@Curryong-I have to agree that Balmoral is a huge drain on the monarch. Sandringham as the second private estate owned by the monarch at least has more year round opportunities for tourists and can have an extended growing season for its farms.
Quote from: TLLK on July 11, 2023, 12:32:43 AM
@Curryong-I have to agree that Balmoral is a huge drain on the monarch. Sandringham as the second private estate owned by the monarch at least has more year round opportunities for tourists and can have an extended growing season for its farms.
Yes, though having lived near there, North Norfolk isn?t exactly the French Riviera either! I think Charles may well take it on the chin as it has so many memories of his parents and other relatives, but I really don?t believe that William is so keen on the place. I do think they will keep Birkhall which is a manageable home, and some of the other properties on the estate but a very old castle will be even more of a burden in 20 odd years, regardless of whether Scotland remains in the UK or not.
King Charles to take smaller cut from crown estate as windfarm profits soar | King Charles III | The Guardian (https://www.theguardian.com/uk-news/2023/jul/20/king-charles-to-take-smaller-cut-from-crown-estate-as-windfarm-profits-soar)
QuoteKing Charles has agreed to take a smaller share of the crown estate?s profits ahead of a multibillion-pound windfall from Britain?s offshore windfarms.
The Treasury said it would halve the proportion of the crown estate?s profits paid to the royal household through the sovereign grant, which will fall from 25% in recent years to 12% from next year.
The monarch is still expected to take an ?86.3m cut from the crown estate, in line with this year?s grant, because profits made by the crown estate from leasing the seabed to offshore wind developers are expected to soar in the coming years.
The decision to shrink the sovereign grant was made by the royal trustees ? the prime minister, Rishi Sunak; the chancellor, Jeremy Hunt, and the keeper of the privy purse, Sir Michael Stevens ? after King Charles asked for the profits from Britain?s growing fleet of offshore windfarms to be used for the ?wider public good? rather than as extra funding for the monarchy.
The crown estate generated record profits of almost half a billion pounds from Britain?s offshore windfarms in the last financial year, up by almost ?130m from the year before, which reignited the debate over how much of the windfall should be shared with King Charles.
Hunt said: ?For almost 300 years, kings and queens have surrendered the profits from the crown estate to the British people, and in return the government has provided a fraction of that to properly support the king in undertaking his official duties.
Majesty Magazine & Joe Little
@MajestyMagazine
2h
The #StJamesPark' pelicans have been on patrol near Buckingham Palace this morning. 📷 Stuart Mailer
(https://pbs.twimg.com/media/F3e6dFDXcAAqM6E?format=jpg&name=small)
Not only the pelicans, but the grass, the flowers - it all looks nice and summery.
Private Estate
Majesty Magazine & Joe Little
@MajestyMagazine
The grounds of @Balmoral_Castlewill reopen to the public on 14th September with no admission charge.
(https://pbs.twimg.com/media/F4Y5oWoWUAEtQVQ?format=jpg&name=small)
I can understand why the BRF needs the time to enjoy Balmoral as a family. Especially as the anniversary of the late Queen's passing draws near. This is the time for her children, grandchildren and great-grandchildren to create lasting memories in the Scottish Highlands just like their ancestors did.
Yes, if there is one place on this earth I would love to visit before it is my time, it is Balmoral, that place seems like heaven on earth to me.The mountains, the wild animals, the history, the very castle are just amazing.
👀
(https://pbs.twimg.com/media/F65gOU-a0AAxDSP?format=jpg&name=small)
I thought I knew royal greed ? but King Charles profiting from the assets of the dead is a disgusting new low | Norman Baker | The Guardian (https://www.theguardian.com/commentisfree/2023/nov/24/royal-greed-king-charles-profiting-dead-disgusting)
Article about a little known law in Lancashire ie that people in that county who die intestate (without a will) and without close kin, leave themselves open to the Duchy of Lancaster taking their assets. I read about this years ago and apparently in the last few years eight million pounds has been added to the coffers of both the late Queen and now King Charles through this method. The Duchy of Lancaster has existed for centuries to give the monarch a source of income once they ascend the Throne.
REVEALED: How King Charles 'profits from the assets of dead citizens' and 'uses them as free money to do up his estates' | Daily Mail Online (https://www.dailymail.co.uk/news/article-12785871/King-Charles-accused-secretly-profiting-assets-dead-citizens-using-free-money.html)
?Three sources familiar with the duchy's expenditure confirmed to the Guardian that the estate was using revenues collected from the dead to refurbish its massive property portfolio.
One said that duchy insiders treated the bona vacantia funds as 'free money' and a 'slush fund'.
Properties identified as eligible for funding include town houses, holiday lets, rural cottages, an old petrol station and barns, including one used to facilitate partridge shoots in Yorkshire.
One document refers to the renovation of an old farmhouse to help transform it into a high-end residential let while another project saw a farm building converted into commercial offices.
In some instances, the money has been spent to buy log burners for properties owned by the king and rented out by his estate.?
In the past decade it has collected more than ?60million which - after costs - is said be distributed to charities set up by the late Queen?..
But internal duchy documents obtained by the Guardian reportedly reveal how funds are increasingly being used to finance the renovation of properties that are rented out for profit.
It is part and parcel to the agreement of surrendering the Crown Estate. Both duchies. Any parliament negotiations would have to return the Crown Estate as an exchange in size quantity and quality.
Like an eye for an eye. This is basic explanation when there is no survivor in the UK minus Cornwall and Lancaster it goes to the Crown, HM government treasury.
Wish there were *names* to these insiders as that would prove truth to the article, yet just another media smare to bring drama and trouble to the royal family and Charles has enough decency that he would never *steal or rob* from the dead........those that believe this silly junk is on them, not Charles that is for sure.
It is partially rather than fully based on the very lengthy agreement 1300 hundreds. If anyone is interested I have the pdf 1000 plus historical document.
The yearly financial reports are public.
The crown treasury is also public but not convenient to be mentioned by the guardian. The hit piece is for those who are ignorant to the duchies and the crown estate revenues
Quote from: wannable on November 25, 2023, 12:22:36 AM
It is partially rather than fully based on the very lengthy agreement 1300 hundreds. If anyone is interested I have the pdf 1000 plus historical document.
The yearly financial reports are public.
The crown treasury is also public but not convenient to be mentioned by the guardian. The hit piece is for those who are ignorant to the duchies and the crown estate revenues
The fact that the records are public and the Duchy of L goes back to the 1300s (something I knew already) does not make that grab for the assets of the dead at all admirable or praiseworthy. The assets were set up originally early in Elizabeth II?s reign in the 1950s to go to the late Queen?s charities (in earlier reigns they went to other things) but the facts are that for at least 15 years this money has been proven to be siphoned off for other purposes.
Revealed: King Charles secretly profiting from the assets of dead citizens | King Charles III | The Guardian (https://www.theguardian.com/uk-news/2023/nov/23/revealed-king-charles-secretly-profiting-from-the-assets-of-dead-citizens)
?It is understood proceedings from the goods are donated to charities once costs are deducted, however this is not said to be the case in the King's instance.
An analysis by The Guardian found the Duchy was using funds to finance the renovation of properties that are rented out for profit.
A 2020 policy gave officials at the King?s estate a licence to use bona vacantia funds that may result in an ?incidental? benefit to the the King?s personal income.
Properties identified as eligible for funding included town houses, holiday lets, rural cottages, agricultural buildings, a former petrol station and barns.?
Quote from: Nightowl on November 25, 2023, 12:14:09 AM
Wish there were *names* to these insiders as that would prove truth to the article, yet just another media smare to bring drama and trouble to the royal family and Charles has enough decency that he would never *steal or rob* from the dead........those that believe this silly junk is on them, not Charles that is for sure.
The Guardian is a British broadsheet newspaper. It is certainly not a tabloid. It was founded in 1821 as the pioneering Manchester Guardian and remained so for over 130 years until it changed its title and became The Guardian. It is taken seriously as a newspaper and its journalists aren?t in the habit of making things up or asserting things for which they can be sued for libel. Britain has strict libel laws. That does not mean however that journalists are not allowed to protect their sources.
And just because of that, it still does not mean anything at all unless there is solid PROOF which is evidence to prove that the article is real, Names please regardless of how old a newspaper is or their reputation.
I still do not think Charles with all that is going on with the monarchy has time to steal and rob dead people, Charles stricks me as a decent human being.
Quote from: Nightowl on November 25, 2023, 05:32:21 AM
And just because of that, it still does not mean anything at all unless there is solid PROOF which is evidence to prove that the article is real, Names please regardless of how old a newspaper is or their reputation.
I still do not think Charles with all that is going on with the monarchy has time to steal and rob dead people, Charles stricks me as a decent human being.
Charles does NOT administer the Duchy of Lancaster?s finances on his own. No monarch has ever done so, even in medieval times. He has teams of people working on the Duchy?s behalf. These teams would be taking these assets as the teams under Queen Elizabeth II did and many of those still remain for King Charles III. You don?t seriously believe that Charles or his mother administer (ed) the Duchies on their own, do you? However, neither ever made any attempt to remove this age old clause, and what is done by these Duchy administrators is done in their name.
From the Encyclopaedia Britannica.
The Guardian, influential daily newspaper published in London, generally considered one of the United Kingdom?s leading newspapers.
Category: History & Society
Formerly (1821?1959): The Manchester Guardian
See all related content →
The paper was founded in Manchester in 1821 as the weekly Manchester Guardian but became a daily after the British government lifted its Stamp Tax on newspapers in 1855. ?Manchester? was dropped from the name in 1959 to reflect the newspaper?s standing as a national daily with a positive international reputation, and its editor and editorial staff moved to London in 1964.
The Guardian has historically been praised for its investigative journalism, its dispassionate discussion of issues, its literary and artistic coverage and criticism, and its foreign correspondence. The Guardian?s editorial stance is considered less conservative than that of The Daily Telegraph and The Times, its main London competitors, but its reporting is also marked by its independence. The paper was once called ?Britain?s non-conformist conscience.?
I?ll look forward then, according to your stance, to these journalists being sued by the Duchy for libel, lol! The Sun, Express, Mail, the tabloids that you appear to believe so wholeheartedly when it comes to the Sussexes, have been sued for lies and mis truths thousands of times. British Broadsheets very very rarely.
Quote from: Curryong on November 25, 2023, 05:43:23 AM
Charles does NOT administer the Duchy of Lancaster?s finances on his own. No monarch has ever done so, even in medieval times. He has teams of people working on the Duchy?s behalf. These teams would be taking these assets as the teams under Queen Elizabeth II did and many of those still remain for King Charles III. You don?t seriously believe that Charles or his mother administer (ed) the Duchies on their own, do you? However, neither ever made any attempt to remove this age old clause, and what is done by these Duchy administrators is done in their name.
Of course Charles does not handle the checkbook, heck he does not even have a phone, lucky guy for not having a phone, that I admire yet he has someone at his beck and call to handle his life the way he wants it, same went for HM and others in those positions. I am just saying why would the media out out that he robs dead people, that is beyond evil and a way to stir up trouble, well the Guardian is a republican newspaper, so of course they would print lies to make trouble for those that believe those headlines.
Oh for your info, I do NOT believe any news print or internet headlines, if it does not come from BP or the King or PW themselves, those I would believe, everyone else is in the toilet filled with poo as far as I am concerned. I learned that a very long time ago in something personal printed in a newspaper that affected many people deeply thinking our loved ones had died, including myself and it was all LIES.....learned that lesson about the media real damn quick.
King?s estate to transfer ?100m into ethical funds after bona vacantia revelations | King Charles III | The Guardian (https://www.theguardian.com/uk-news/2023/nov/25/kings-estate-transfer-cash-ethical-funds-bona-vacantia-revelations#:~:text=King%20Charles's%20estate%20has%20announced),an%20investigation%20by%20the%20Guardian.
It has been announced that the Duchy of Lancaster is to transfer 100 million pounds into ethical funds after The Guardian?s bona vacantia revelations of the last 48 hours.
The latest article of The Guardian is outright lying (simply because the DOL has a 'policy' meaning a blueprint of what and where unclaimed moneys/assets can be used - they are all ''ethical'')
The bona vacantia of the Duchy of Lancaster has a strict policy, where those unclaimed moneys go to 3 charities; Benevolent Trust, Housing Trust, Jubilee Trust or else improvement of the environment of the estate. It does not go into Charles 'privy purse'. The three charities have supported local community initiatives, social housing and historic restoration across the DOL's estates.
The BBC has challenged The Guardian with the DOL's finanancial yearly report.
Quote from: Curryong on November 25, 2023, 04:30:09 AM
The fact that the records are public and the Duchy of L goes back to the 1300s (something I knew already) does not make that grab for the assets of the dead at all admirable or praiseworthy. The assets were set up originally early in Elizabeth II?s reign in the 1950s to go to the late Queen?s charities (in earlier reigns they went to other things) but the facts are that for at least 15 years this money has been proven to be siphoned off for other purposes.
Revealed: King Charles secretly profiting from the assets of dead citizens | King Charles III | The Guardian (https://www.theguardian.com/uk-news/2023/nov/23/revealed-king-charles-secretly-profiting-from-the-assets-of-dead-citizens)
There is no law against ''investing'' moneys ''legally'' wherever ''anyone'' wants to invest in the UK.
The grabbing of money and assets from the dead with no surviving family members is a practice worldwide. The difference is 100 % doesn't go to the government in turn.
Quote from: wannable on November 25, 2023, 11:45:50 AM
The latest article of The Guardian is outright lying (simply because the DOL has a 'policy' meaning a blueprint of what and where unclaimed moneys/assets can be used - they are all ''ethical'')
The bona vacantia of the Duchy of Lancaster has a strict policy, where those unclaimed moneys go to 3 charities; Benevolent Trust, Housing Trust, Jubilee Trust or else improvement of the environment of the estate. It does not go into Charles 'privy purse'. The three charities have supported local community initiatives, social housing and historic restoration across the DOL's estates.
The BBC has challenged The Guardian with the DOL's finanancial yearly report.
The challenging article of the BBC is basically what I am stating here. Not everyone would know this, only a minority of dedicated royal watchers.
Note: I like to post and comment these challenges for the improvement of knowledge. So after stating this, a financial yearly report beats a news - in this instance The Guardian filled with inaccuracies.
ETA: Now, IF and only IF the Guardian are 'angry' that unclaimed money is ''invested'' to make more money and then that money is later ethically used. The only definition here is selfish ultra leftist seeking for any excuse to make a hit piece against a very well known man who has dedicated his life more than sufficiently to ''charity'' causes. In quotes because the DOL policy is so strict I'd say the Guardian author is a mad man.
Quote from: wannable on November 25, 2023, 11:58:34 AM
There is no law against ''investing'' moneys ''legally'' wherever ''anyone'' wants to invest in the UK.
The grabbing of money and assets from the dead with no surviving family members is a practice worldwide. The difference is 100 % doesn't go to the government in turn.
Governments doing this is very very different from an unelected monarch, and William as POW with Duchy of Cornwall money, using this money in such ?creative ways?.
From the horse?s mouth, a Lancashire report.
King Charles' private stream grows as money from dead residents used for profit - Mirror Online (https://www.mirror.co.uk/news/royals/king-charles-private-stream-grows-31525263#) And the Mirror reports.
King Charles' Lancashire cash cow keeps growing as royals absorb dead residents' estates - LancsLive (https://www.lancs.live/news/lancashire-news/king-charles-lancashire-cash-cow-28169130)
And the Express reports King Charles's estate to transfer ?100m after 'collecting money from the dead' | Royal | News | Express.co.uk (https://www.express.co.uk/news/royal/1838972/king-charles-estate-transfer)
?King Charles?s estate has announced? (on Friday)? that it is transferring more than ?100million into ethical investment funds after significant backlash when it was revealed his estate was "collecting money from the dead".
The announcement came following an investigation that found a significant portion of the Duchy of Lancaster's funds came from people who died in north-west England with no will or next of kin.?
What a massive coincidence! The Duchy is transferring funds into ethical investments one day after it found out the Guardian were going to announce what they had found from accessing internal documents!
The DOL received - according to this year's duchy accounts, unclaimed dead GBP 3.8m.
^The article you are posting is claiming the entire yearly profit unrelated to the dead - GBP 86 Million. The articles should post financial numbers separating the revenues, if they don't - then the article is untruthful. For example out of the 86 million - Charles uses for the privy purse between 21 to 24 million, the rest is reinvested into the DOL or the community. My above number IS a fact taken from the financial report and reported by the BBC in their challenge to The Guardian and any other replicates that are stating the origin.
In reference to other governments, yes they do take moneys from unclaimed dead and unclaimed 10 year bank accounts. I suggest if you do not like the form of government - UK Constitutional monarchy -write a letter to parliament. Maybe they can discuss and fix new laws with the Duchies. Steep hill, but you never know.
Quote from: wannable on November 25, 2023, 04:50:47 PM
The DOL received - according to this year's duchy accounts, unclaimed dead GBP 3.8m.
^The article you are posting is claiming the entire yearly profit unrelated to the dead - GBP 86 Million. The articles should post financial numbers separating the revenues, if they don't - then the article is untruthful. For example out of the 86 million - Charles uses for the privy purse between 21 to 24 million, the rest is reinvested into the DOL or the community. My above number IS a fact taken from the financial report and reported by the BBC in their challenge to The Guardian and any other replicates that are stating the origin.
In reference to other governments, yes they do take moneys from unclaimed dead and unclaimed 10 year bank accounts. I suggest if you do not like the form of government - UK Constitutional monarchy -write a letter to parliament. Maybe they can discuss and fix new laws with the Duchies. Steep hill, but you never know.
I don?t live in Lancashire or the UK so it doesn?t affect me. If I were occupying Duchy properties however I would do so. Although unlike yourself I live in a Commonwealth country that has Charles as HOS unfortunately. though that is likely to change. So I, as a Commonwealth citizen, have a perfect right to comment when I read about Charles?s negative actions and there have been plenty over the decades.
And I repeat?
What a massive coincidence! The Duchy is transferring funds into ethical investments one day after it found out the Guardian were going to announce what they had found from accessing internal documents!
However, I repeat again. This is now changing and due to the Guardian.
As I noted previously, I do like to challenge when I see a fishy situation/article. :laugh:
Quote from: wannable on November 25, 2023, 05:10:44 PM
As I noted previously, I do like to challenge when I see a fishy situation/article. :laugh:
Yes, and a decade ago when I read about what the Duchies did with dead people?s assets and properties and land I smelled a situation that stank to high heaven of unelected and unearned privilege. And I?ve been mad about it ever since, for about eleven years. You talk of fishy, this was a leaking sewage situation.
And now because they?ve been exposed and found out and had bad PR, the money is being transferred. ?Ethical? ? The Duchies and the Royals who get millions from them for their private purses etc wouldn?t know an ethical action if they fell over it.
Isn't this pretty common in most countries. When you die without a will or next of kin, the estate goes to the government. Maybe I'm wrong.
^ It is, the bank doesn't stay with the moneys, it goes to treasury to every country in the world. Different story if you trust or not the government in turn.
In the UK, treasury splits the money equally between England, Scotland and Wales with the same scheme as the DOL. Charities and ethical industries, each one decides where the money goes.
^^Curryong A decade ago there was no law (policy) for the government or the duchies (the Queen invested it in offshore accounts, the Panama papers), the dormant assets law was just created 2022. Basically unclaimed moneys scheme is they decide where the money goes with the disclaimer community charities and ethical industry.
Quote from: PrincessOfPeace on November 25, 2023, 06:14:46 PM
Isn't this pretty common in most countries. When you die without a will or next of kin, the estate goes to the government. Maybe I'm wrong.
Yes, here in the US if a person dies and there is no heir to inherit the estate it goes to the government. That happened a lady I knew who had no one left in her family.
Quote from: PrincessOfPeace on November 25, 2023, 06:14:46 PM
Isn't this pretty common in most countries. When you die without a will or next of kin, the estate goes to the government. Maybe I'm wrong.
It happens in my state as well as others in the USA.
I hope this brings curiosity to what each of you find out what your state or federal government does with it.
Some countries do not have any law to use it for community charities or ethical organizatons. Nothing wrong, governments use those moneys where Ministerial budget has been exhausted and need the moneys. It's the citizens to find out if those moneys are being corrupted, why was the financial budget exhausted and need to stick their hand in a unclaimed fund? It is what I said in previous comment - 'different story if you trust or not the government in turn.
The UK last year, as I said, created a new act. The Dormant Asset Law, both the UK government and the DOL are just recently practicing it because the creaton was 2022, being 2023 a new fiscal year. The act is very specific with community charities and ethical investments. My personal opinion on ethical investments is it's a cult - I've seen companies signing up in such schemes and to me it's akin to cancel culture. If you don't enter, your cancelled. 🤭 and then some of these companies that sign in are bandwagon fishy. :happy15: An easy check out is once upon a time Harry invested in a so called ethical bank, see their client list and y'all will understand, the good the bad and the plain ugly mix of their so called ethical clients.
Most Commonwealth countries send the moneys to their commonwealth fund - hope the money is growing (for real), the government in turn can use it with no limitatons, meaning there is no specific law but approval of use from their parliament vote. i.e. a Prime Minister can appropriate moneys for 'legal fees':unsure:
Quote from: TLLK on November 26, 2023, 01:14:13 AM
It happens in my state as well as others in the USA.
Yes, I know. However, again, the government does not consist of unelected persons. Governments are elected and are responsible ultimately through Parliament to the people who elect them. And that includes the Treasury.
However, the people of Lancashire and elsewhere who live on Duchy properties are (usually) British citizens who are entitled to vote. They never voted in Charles, just as the people who occupy Duchy of Cornwall properties have never voted for William.
These two royals are automatically Duke of Lancaster and Duke of Cornwall. And with those centuries old unelected positions comes untold wealth and power, including scooping up the assets of dead people who didn?t leave a will, among other things. And believe me, there were many other cases of Charles as landlord in Duchy of Cornwall properties who acted against his tenants? interest (live people) and that was reported on by the media.
Not everyone would agree paying legal fees as a reason to use those moneys.
I am sure most people prefer the rules of only using the money for community charities, undecided about the ethical bit.
Metropolitan Police
@metpoliceuk
During the Changing of the Guard this morning, officers noticed a child at the front getting upset because of the large crowd.
To help calm him down, officers invited him over the barrier to have a closer view of the ceremony.
Quote
Royal Parks Police
@MPSRoyal_Parks
A bumper crowd at this morning's, Buckingham Palace, Changing the Guard. #STJamessPark #TheGreenPark #BuckinghamPalace