The Royal Forums Coat of Arms


Join The Royal Forums Today
Reply
 
Thread Tools Search this Thread Display Modes
 
  #1501  
Old 09-25-2020, 12:21 PM
Duc_et_Pair's Avatar
Imperial Majesty
 
Join Date: Mar 2014
Location: City, Netherlands
Posts: 10,526
Quote:
Originally Posted by AC21091968 View Post
Thank you for the article. The Daily Mail has also mentioned it yesterday (or the day before).

Like a lot of newspaper publications, they seem to be mistaken on the how the sovereign grant works. The sovereign grant is NOT taxpayer-founded. It is the 25% (as of 2016) of the annual Crown Estate's profit. The rest of 75% goes to HM's Treasury in which the government (or more likely Chancellor of the Exchequer) can decide what to spend on.
The Queen will receive £86.3m from the taxpayer-funded sovereign grant next year for both official duties and palace refurbishment. Though Crown Estate profits are expected to be lower, she will receive the same in 2022-23, as under the 2012 funding formula, the amount can never go down.
I apologise if I have been repeating the same sentence. These newspaper publication seriously need to get this thing right.

I am not surprised that the profit of Crown Estate has gone down due to COVID-19. Increase the number of tours in Buckingham Palace, other Crown Estate properties or even the Queen's private properties (Sandringham House & Balmoral Castle) is definitely not an option. In most cases, indoor tours cannot happen because of COVID restriction.

Like the article has mentioned, the income from Royal Collection Trust (RCT) and Duchy of Cornwall has also fallen.

I am not quite sure if the current Chancellor (Rt Hon. Rishi Sunak MP) will change the percentage of Crown Estate's profit that goes into the Sovereign Grant. I don't think increasing the rate greater than 25% will not sit well with the public. Conversely, I don't think Mr. Sunak will decrease the rate, given that George Osbourne (former Chancellor from the Conservative Party) increase it from 15%.
To the left or to the right, the Sovereign Grant, is public money as it flows from the Treasury, which dedicates funds to the Sovereign. Yes, it comes from the Crown Estate but instead of spending it to benefit the Nation (the aim of the Crown Estate), like funding the NHS or on public infrastructure, it remains a choice to spend public money for the monarchy.
__________________

Reply With Quote
  #1502  
Old 09-25-2020, 12:41 PM
ACO ACO is online now
Heir Apparent
 
Join Date: Dec 2017
Location: New York, United States
Posts: 3,238
So it’s been confirmed Charles stopped funding the Sussexes in March.
__________________

Reply With Quote
  #1503  
Old 09-25-2020, 02:27 PM
Royal Highness
 
Join Date: Aug 2003
Posts: 1,643
Quote:
Originally Posted by ACO View Post
So it’s been confirmed Charles stopped funding the Sussexes in March.
The Prince of Wales stopped using funds from The Duchy of Cornwall to pay the official expenditure of the Duke and Duchess of Sussex in March, when they ceased to be working members of The Royal Family.

Whether Charles used any personal funds to help support his son and daughter in law beyond that time is a different matter, but also a private one.
Reply With Quote
  #1504  
Old 09-25-2020, 10:17 PM
AC21091968's Avatar
Nobility
 
Join Date: Aug 2020
Location: Sydney, Australia
Posts: 382
I have posted something similar in the The Queen's True Worth thread of the Royal Library. Moderator: Please remove this post if it is considered off-topic.

Andrew Adonis, Baron Adonis (Labour life peer in the House of Lords) has tweeted out and tagged David McClure in response to the release of Royal financial report 2019-2020. He also mentioned about David McClure's book.
Andrew Adonis @Andrew_Adonis
The royal finances are deliberately opaque but @davidjmcclure’s new book shows that the monarchy enjoyed a bonanza from big increases in state support after 2010 plus historic Duchy of Lancaster & Cornwall revenues. These are gifted from the state & not ‘private’
7:40 PM · Sep 24, 2020·Twitter for iPhone
https://twitter.com/Andrew_Adonis/st...65121994608642

To which Graham Smith (CEO of Republic UK) replied
Graham Smith (not that kind of republican) @GrahamSmith_
Replying to @Andrew_Adonis and @davidjmcclure
Yep. The answer is a republic
Baron Adonis has also tweeted a picture of an extract from the book, The Queen's True Worth and also gave his opinions on royal finances.
Andrew Adonis @Andrew_Adonis
The media & Parliament do a bad job of holding the monarchy to account for its huge revenues: the media only cares about the celebrity side while party leaders stop parliamentary scrutiny lest it be thought anti-monarchist (which it isn’t). @davidjmcclure’s book is timely
11:33 PM · Sep 25, 2020·Twitter for iPhone
https://twitter.com/Andrew_Adonis/st...86258159341568

I am not quite sure if Baron Adonis is a Republican (Anti-monarchist). He is more widely known to be staunch Remainer, who strongly opposes Brexit.

From reading the tweets from these minor "Republican" accounts (who probably just spend all day trolling the Royal watchers and monarchist), they seem to want to Royal Family not to receive any Sovereign grant. I'm not quite sure about the incomes from Duchy of Cornwall, Duchy of Lancaster and Royal Collection Trust. Instead, they want 100% of the profit from the Crown Estate to go into the Treasury. They even want the state (or government) to take over and manage the Crown Estate to effectively "evict" Royal Members out of Palaces and Castles

Some of them have gone to the extreme of wanting to expropriate Sandringham and Balmoral Estates, which are the Queen's private properties.
Reply With Quote
  #1505  
Old 09-27-2020, 12:45 PM
Serene Highness
 
Join Date: Aug 2019
Location: Northamptonshire, United Kingdom
Posts: 1,054
Quote:
Originally Posted by camelot23ca View Post
The Prince of Wales stopped using funds from The Duchy of Cornwall to pay the official expenditure of the Duke and Duchess of Sussex in March, when they ceased to be working members of The Royal Family.

Whether Charles used any personal funds to help support his son and daughter in law beyond that time is a different matter, but also a private one.
Indeed but as has been noted on here before the "private" wealth of the Prince of Wales accrues from state assets.
Reply With Quote
  #1506  
Old 09-28-2020, 07:32 AM
MARG's Avatar
Majesty
 
Join Date: Aug 2005
Location: Christchurch, New Zealand
Posts: 9,549
Erm, what State Assets would those be?
__________________
MARG
"Words ought to be a little wild, for they are assaults of thoughts on the unthinking." - JM Keynes
Reply With Quote
  #1507  
Old 09-28-2020, 09:48 AM
Duc_et_Pair's Avatar
Imperial Majesty
 
Join Date: Mar 2014
Location: City, Netherlands
Posts: 10,526
Quote:
Originally Posted by MARG View Post
Erm, what State Assets would those be?

The Duchy of Cornwall, which is seen as a Crown Body.

Give the animal any name, but essentially it is owned by "the Crown" ( read: the Nation ) and feeds the Prince of Wales.
Reply With Quote
  #1508  
Old 09-28-2020, 01:52 PM
Serene Highness
 
Join Date: Aug 2019
Location: Northamptonshire, United Kingdom
Posts: 1,054
Quote:
Originally Posted by MARG View Post
Erm, what State Assets would those be?
Savings accrued over half a century from the Duchy of Cornwall. Both historical duchies are part of Crown Lands, along with the Crown Estate, that belong to the nation. As would be obvious in any future republic.

This has been covered on this thread before.
Reply With Quote
  #1509  
Old 09-28-2020, 02:14 PM
Heir Apparent
 
Join Date: Apr 2006
Location: England, United Kingdom
Posts: 3,220
I wonder if we will see a bigger drop in outgoings in some areas in the next years annual accounts, the financial year runs to March so I suspect in next years the travel bill, for example, may have gone down, given the family couldn't make many visits far and wide.
Reply With Quote
  #1510  
Old 09-28-2020, 02:43 PM
Serene Highness
 
Join Date: Aug 2019
Location: Northamptonshire, United Kingdom
Posts: 1,054
It will be interesting to see. As already mentioned up thread the Crown Estate's income has taken a big hit from covid.

https://www.independent.co.uk/news/u...y-b572508.html
__________________

Reply With Quote
Reply

Tags
british royal family, civil list, finances


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Royals & Nobles and Wealth, Costs and Finances kcc Royal Life and Lifestyle 445 11-03-2019 05:42 PM
Costs and Finances of the Belgian Royal Family Marengo Royal Family of Belgium 118 07-16-2019 03:30 PM
Wealth and Finances of the Spanish Royal Family hrhcp Royal Family of Spain 156 04-06-2018 07:21 PM
Wealth of The German Royal/Princely Houses kcc Royal Families of Austria and Germany 12 12-30-2007 03:35 AM




Popular Tags
abdication althorp anastasia anastasia once upon a time baby names bangladesh bridal gown chittagong cht clarence house diana princess of wales dragons dubai duke of cambridge earl of snowdon facts future general news thread hereditary grand duchess stéphanie hereditary grand duke guillaume hill historical drama history hochberg imperial household intro italian royal family jacobite japan jewellery jumma languages list of rulers mail mary: crown princess of denmark mountbatten nepalese royal jewels northern ireland norway norway history palestine pless prince charles of luxembourg prince dimitri princess chulabhorn walailak princess eugenie princess laurentien princess of orange princess ribha queen louise queen mathilde random facts royal dress-ups royal jewels royal marriage royal re-enactments. royalty of taiwan royal wedding royal wedding gown serbian royal family settings snowdon spencer family thailand thai royal family tracts uae customs united states of america wittelsbach working royals; full-time royals; part-time royals;


All times are GMT -4. The time now is 07:45 PM.

Social Knowledge Networks

eXTReMe Tracker
Powered by vBulletin
Copyright ©2000 - 2020
Jelsoft Enterprises
×