The UK will cut Carlos III benefits by 13% from next year

The British government will change the way it calculates and gives the Sovereign Bonus annually. In this way, Carlos III, in his first year in office, would have received less money than he would have had hitherto, under the present circumstances. The Ministry of Economy This has been made clear over the years 2024 and 2027Sovereign Grant, will be equivalent to 12% – instead of the current 25% – of net income Crown real estatethe Crown’s heritage assets that have been run by the state since the 18th century.

Minister Jeremy Hunt Specifies in a statement that the change, to be determined by the Committee of Trustees, It must For the fact that he was there recently An “unexpected increase” in the profits of Crown Propertiesthanks for the Installation of offshore wind energy fields in the territory of that property portfolio.

According to the note, drop From 25% to 12% of the capital allocated to the Sovereign Grant It would mean that Carlos III will receive around £24m in 2024 (27.6 million euros) less in accordance with it, and 130 million (about 150 million euros) Less in 2025 and 2026.

Discount on “Financing Public Services”

Hunt says the difference will go to “funding vital public services for the benefit of the nation”. Thus, in the fiscal year 2024-25, when the measure will go into effect, The sovereign grant will remain at 86.3 million pounds (approximately 100 million euros), which is the same as the current level, and part of it should be allocated to the repair work of Buckingham Palace, Completed by 2027. Once the rehabilitation of the official residence of the Head of State in London is completed, the Royal Grant account will be reviewed again, the statement indicates

previous january, Carlos III indicated that he was willing to reduce the percentage of the capital he receives from the Crown Estategiven this extraordinary increase in profits from wind energy investments.

In addition to government support, The British monarchy has its own income from business and private property, Its undisclosed total value is estimated by The Guardian at 1,800 million pounds (more than 2,000 million euros).