King Charles and Prince William’s finances have recently been disclosed, revealing significant personal incomes and their use of taxpayer funds for official duties.
However, a major shift in transparency has emerged with Prince William’s handling of his Duchy of Cornwall income.
King Charles earns an annual private income exceeding £27 million from the Duchy of Lancaster estate, an ancient portfolio of land, property, and assets held in trust for the sovereign. When Charles became king, he passed the Duchy of Cornwall, yielding £23 million annually, to Prince William.
A notable change is that William has not disclosed the amount of tax he pays on his Duchy income, a practice his father previously followed. Despite assurances that William pays the “appropriate” level of tax, believed to be higher than Charles, the lack of transparency has sparked criticism. Sources told The Telegraph that the current approach is “what was required” for now.
Peter Hunt, a former BBC royal correspondent, criticised William’s decision, saying, “Royal non-disclosure triumphs over transparency. William’s obsession with privacy trumps any concerns as to how this may look.” He cautioned that withholding basic financial details could become unsustainable.
In contrast, the royal accounts also showcased William and Kate’s extensive philanthropic efforts. They have made significant personal donations to various causes, including charities linked to the war in Ukraine, earthquake relief in Turkey and Syria, the London Air Ambulance, and mental health organisations.
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