King Charles, Prince William rake ₹543 crore from charities and public services, says report

The private estates of King Charles and Prince William generate millions of revenue annually from public services and charities linked to the armed forces, the NHS, and state schools, reported the BBC, citing a new documentary, Channel 4’s Dispatches and the Sunday Times.

According to the documentary, King Charles's private estate of land, Duchy of Lancaster, and Prince William's estate land in Cornwall are part of a deal worth almost £50 million (equal to ₹543 crore).

However, the real estate properties and their deals “comply with all relevant UK legislation and regulatory standards applicable to its range of business activities”, a spokesperson for the Duchy of Lancaster told BBC.

About the rental deals by Royals

According to the investigation, the Duchy of Lancaster struck a deal worth £11.4 million to store a new fleet of electric ambulances. The agreement was finalised with with Guy’s and St Thomas’ NHS Trust in London, reported BBC.

The investigation also revealed that the Duchy of Cornwall had charged the navy more than £1m since 2004 to build and use jetties and moor warships on the Cornish coastline.

The six different leases granted by the duchy will generate around £600,000 in wealth over the lifetime.

About the Duchy of Lancaster and Duchy of Cornwall

The Duchy of Lancaster is a real estate portfolio across England and Wales. It was founded in 1399. The portfolio of land, property and assets is held by the trust for the Sovereign. Prince William's Duchy of Cornwall is another portfolio established in 1337. According to BBC, it holds a value of more than £1 billion, which provides an income for the heir to the throne. Both estates are exempt from paying Corporation Tax or Capital Gains Tax.

The documentary ‘Dispatches’ The King, The Prince and Their Secret Millions, provides insight into the rental agreements and claims that their details have not been shared with the Parliament. It also raises concerns about the environmental impact of some of the estates' contracts.