The royal family has found itself the focus of a recent inquiry, with King Charles and Prince William investigated by Channel 4’s Dispatches and The Sunday Times over their finances.
The recent investigation examined the Duchies of Lancaster and Cornwall, analysing the revenue streams from the two portfolios of land, property and assets across England and Wales.
According to claims by the investigation, the private estates have been “profiting” from charities and public bodies, making millions of pounds from contracts with the NHS, state schools and the armed forces, among others.
In fact, the findings revealed that King Charles and Prince William have made more than £22 million in rent from charities over the last 19 years.
The Duchies are both run as commercial enterprises, with Prince William and King Charles receiving an annual income. King Charles’ from the Duchy of Lancaster is reported to be £27.4 million, with Prince William’s from the Duchy of Cornwall reported to be £23.6 million.
The investigation’s findings have divided the public since the documentary aired on Saturday, with numerous viewers taking to social media in outrage.
“Not what you expect from a modern democracy, when the veil is lifted people will think differently about the Royals,” posted one viewer on Instagram. “Environmentally and ethically questionable exempt from corporation tax on Duchy profit. Time for change.”
However, others defended the royals, with biographer Angela Levin even calling the investigation a “hatchet job”.
“The duchies are private inheritance lands not part of the crown estates. And they pay taxes on it,” posted one viewer to Instagram. Another wrote: “Well, to query what the state pays them is one thing, but how they run their private businesses is their business. Every business owner makes profit.”
“The Duchy of Lancaster operates as a commercial company, managing a broad range of land and property assets across England and Wales,” announced a spokesperson for the Duchy of Lancaster in a statement, following the investigation. “It complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.
“The Chancellor of the Duchy of Lancaster is responsible to the Sovereign for the administration of the Duchy. However, he/she delegates certain functions, particularly those regarding asset management, to the Duchy Council.
“While His Majesty The King takes a close interest in the work of the Duchy, the day-to-day management of the portfolio is the responsibility of the Council and executive team.”
“The Duchy of Cornwall is a private estate with a commercial imperative which we achieve alongside our commitment to restoring the natural environment and generating positive social impact for our communities,” added a spokesperson for the Duchy of Cornwall in a statement. “Prince William became Duke of Cornwall in September 2022 and since then has committed to an expansive transformation of the duchy.
“This includes a significant investment to make the estate net zero by the end of 2032, as well as establishing targeted mental health support for our tenants and working with local partners to help tackle homelessness in Cornwall.”
The King, The Prince & Their Secret Millions: DISPATCHES is available to watch now on Channel 4.
