King Charles III and the heir to the throne, Prince William. Photo: Max Mumby/ Getty images
The British royal family has come under a barrage of criticism for its lack of transparency in its finances and sources of income, after a media investigation revealed that King Charles III and heir to the throne, Prince William, receive income from government agencies while avoiding paying certain taxes. This was reported by Fox News.
As Channel 4 and the Sunday Times have revealed, the two main sources of income for the King and Prince – the Duchies of Lancaster and Cornwall – receive millions in income from leases on land that they rent to the National Health Service (NHS), government organisations and charities. However, these duchies, which contain numerous lands and properties in England and Wales, are exempt from income tax and capital gains tax, which has caused public outrage.
Norman Baker, a former MP and long-time critic of the royal family, said that this situation “deceives the public”, as he believes that the royal lands should belong to the state and the income from them should go to the country’s budget.
The royal family assures that the profits from the Duchies of Lancaster and Cornwall are used to finance the public, charitable and private activities of the King and Prince William. However, some critics, including the anti-monarchy group Republic, believe that the duchies act to the detriment of the public interest, seeking to make profits at any cost.
The investigation also highlighted the king’s massive income, with his Duchy of Lancaster benefiting from a single land lease contract for a medical centre in London
