#grantsm

“King Charles expected to earn millions from Great British Energy deal.” (Daily Mail: 26/07/24

“Labour’s Great British Energy will make profits alright – for King Charles that is” (Canary: 26/07/24)

“King Charles is set to make millions over the next decade thanks to the development of wind farms on land owned by the Royal Family” (inews: 25/07/24)

“The King is likely to make millions after the Crown Estate signed a deal to partner with Labour’s new state-owned energy company.” (The I: 26/07/24)

Its good to know King Charles is doing his bit to help alleviate the cost of living crisis. The King, reported by Forbes magazine to be worth £21.3bn, certainly needs the money. After all, the upkeep of all those palaces and castles doesn’t come cheap.

Luckily for the King he “owns” the seabed around our island out to 12 nautical miles and it is this that is set to boost his already substantial income from Crown lands.

Under the terms of the Sovereign Grant - the taxpayer funded money given to the Crown to pay for the Royal Family – King Charles will receive 12% of the profits of the Crown Estate. The firms operating offshore wind farms will have to pay to lease their sites so King Charles is set to substantially increase his already high profits of £1.1bn that he receives from existing wind farm leases.