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.
U.S. President Joe Biden visited Europe, meeting with King Charles III and British Prime Minister Rishi Sunak before attending the NATO summit in Lithuania.President Joe Biden and King Charles III have used their first meeting in their respective roles to highlight the generational issue of climate change.
Charles has asked for profits from the windfarm deals to be used for the “wider public good” instead of going to fund his official duties. The amount of the sovereign grant for this year is 86.3 million pounds , unchanged from the year before. The Treasury said that cutting the rate to 12% means that the monarchy’s budget next year will remain the same because it won’t receive an extra 24 million pounds it would have were the rate to stay at 25%.
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