"Windfarm Profits Prompt Recalibration of Public Funding for King Charles III and Royals"
Originally Published 2 years ago — by Yahoo News
The U.K. Treasury has announced a recalculation of public funding for King Charles III and the royal family's official duties due to unexpected profits from offshore wind farms on the monarch's Crown Estate. The proportion of profits paid to the royals will be halved from 25% to 12% next year, following a review by the Royal Trustees. The windfall from six new offshore windfarm lease deals, estimated to be worth £1 billion ($1.3 billion) annually, will now be used for the "wider public good" instead of funding the monarchy's official duties. This move aims to address criticism of the royals being out of touch with wider British society.