‘The King, the Prince and Their Secret Millions’ explains how royals would receive public money

• A new investigation claims that King Charles and Prince William reportedly earn millions of dollars from deals their respective royal estates have with charities, public services and more.

• Sunday time and the current affairs program Dispatches alleged that the King and Prince of Wales generate this income via the Duchy of Lancaster and the Duchy of Cornwall

• A five-month investigation has shed light on how both duchies make millions, with the Duchy of Lancaster reportedly generating around $35 million for King Charles and the Duchy of Cornwall reportedly generating around $30 million for Prince William .

King Charles And Prince William are believed to have made millions of dollars from contracts their respective royal estates made with charities, public services and more, according to a new investigation.

On November 2,Sunday time and the current affairs show Dispatches on Channel 4 in the United Kingdom revealed a joint investigation alleging that King Charles, 75, and Prince William, 42, generate this income through the duchies of Lancaster and Cornwall. A Dispatches program entitled The king, the prince and their secret millionsdebuted the same day.

In statements shared with PEOPLE, spokespersons for the Duchy of Lancaster and the Duchy of Cornwall highlighted the private status of each estate.

“The Duchy of Lancaster manages a wide range of land and property. It is self-financing and does not receive any public funds in connection with its activities,” said a spokesperson for the Duchy of Lancaster. “It publishes an annual report and accounts which are independently audited and available on its website and which comply with all relevant UK laws and regulatory standards applicable to its range of business activities.”

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Making a similar comment, a spokesperson for the Duchy of Cornwall said: “The Duchy of Cornwall is a private estate with a commercial imperative which we deliver alongside our commitment to restoring the natural environment and generating positive social impact for our communities. »

“Prince William became Duke of Cornwall in September 2022 and has since embarked on a sweeping transformation of the duchy. This includes significant investment to make the estate net zero by the end of 2032, as well as implementing targeted mental health support for our tenants and working with local partners to help tackle homelessness in Cornwall,” the spokesperson said.

The investigation focused on the Duchy of Lancaster, a private estate of 44,748 acres in England and Wales owned by King Charles as sovereign, and the Duchy of Cornwall, a private estate of almost 130 000 acres in the southwest of England, owned by the prince. William as Prince of Wales. Both estates were created hundreds of years ago to provide income for the ruler and heir to the throne respectively.

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Sunday time said a five-month investigation has highlighted how the two duchies make millions by “charging government departments, councils, businesses, mining companies and the general public through a series of commercial rents and feudal levies on lands largely seized by medieval monarchs.

“Duchy records show royals claim the right to cross rivers, unload goods on shore, run cables under their beaches, run schools and charities and even dig They earn income from toll bridges, ferries, sewer lines and churches, village halls, pubs, distilleries, gas pipelines, boat moorings, open and underground mines, car parks, houses. rental and wind turbines,” said the media.

This arrangement is seen as problematic because members of the royal family “operate as commercial owners” benefiting from a special agreement from the Treasury “exempting them from paying tax on the profits of their companies”.

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Leases and contracts reported in the names of King Charles and Prince William reveal they make money “by charging the Army, Navy, NHS (National Health Service), Prison Service and public schools the use of their lands, rivers and seashores. Sunday time claimed.

The outlet reported that the duchies earned around $65 million last year, with the Duchy of Lancaster generating around $35 million for the king and the Duchy of Cornwall earning around $30 million for William.

Through the Crown Lands Act 1702, King Charles received revenue, not capital, from the Duchy of Lancaster, according to his history. Meanwhile, his eldest son, Prince William, chooses to use the revenues of the Duchy of Cornwall to fund his public, private and charitable activities, in accordance with the Duchy’s guidelines. FAQs.

During the summer, the Prince of Wales makes waves by refusing to disclose how much he paid in taxes on the A salary of 30 million dollars for the 2023-2024 financial year of the Duchy of Cornwall.