Royal Estates Accumulate Millions Through Public Contracts
King Charles and Prince William's Estates Generate Substantial Income from Public Bodies
An investigation by Channel 4's Dispatches and the Sunday Times has revealed that the private estates owned by King Charles and Prince William receive millions from contracts with public bodies and charities.
The Duchies of Lancaster and Cornwall have reportedly earned nearly £50 million over the past year from such deals.
The Duchy of Lancaster, established in 1399, is King Charles's private estate, while the Duchy of Cornwall, established in 1337, belongs to Prince William.
Notably, a £37 million contract exists with the Ministry of Justice for leasing Dartmoor Prison by the Duchy of Cornwall, and an £11.4 million agreement with Guy's and St Thomas' NHS Trust for a London warehouse lease by the Duchy of Lancaster.
Despite concerns raised about environmental impacts and a lack of transparency to Parliament regarding these arrangements, spokespeople affirm the estates' compliance with UK laws.
These private estates function independently from the Crown Estate, wherein profits go to the Treasury affecting the Sovereign Grant, which will increase to £132m next year following a rise in Crown Estate profits to £1.1 billion.
Both duchies emphasize commitments to environmental sustainability and social impact.
The Duchies of Lancaster and Cornwall have reportedly earned nearly £50 million over the past year from such deals.
The Duchy of Lancaster, established in 1399, is King Charles's private estate, while the Duchy of Cornwall, established in 1337, belongs to Prince William.
Notably, a £37 million contract exists with the Ministry of Justice for leasing Dartmoor Prison by the Duchy of Cornwall, and an £11.4 million agreement with Guy's and St Thomas' NHS Trust for a London warehouse lease by the Duchy of Lancaster.
Despite concerns raised about environmental impacts and a lack of transparency to Parliament regarding these arrangements, spokespeople affirm the estates' compliance with UK laws.
These private estates function independently from the Crown Estate, wherein profits go to the Treasury affecting the Sovereign Grant, which will increase to £132m next year following a rise in Crown Estate profits to £1.1 billion.
Both duchies emphasize commitments to environmental sustainability and social impact.
