July 24, 2023: The amount of cash given to the British monarchical family by the U.K. country is projected to “increase significantly” in the future years, according to the latest review of the annual Sovereign Grant.
On Thursday, Treasury officials said that the proportion of the Crown Estate’s profits paid to the royals would be decreased to 12% from next year, down from the present rate of 25%.
Despite the percentage amount, an unexpected profit surge means the royal family is poised to receive more more money than in prior years.
The amount awarded as a sovereign grant is tied to the profits generated by the crown estate, which covers all of the hereditary assets of the monarch, including large portions of land and vast swathes of British coastline and seabed.
According to the crown estate, the portfolio is worth £16 billion ($20.5 billion) and caused “substantial additional income” from the offshore wind installations owned by the monarchical family.
Based on profits generated two years before the financial year, the sovereign grant was worth £86.3 million this year, whole from the year before.
The royal family is forecast to cause profits of around £1.04 billion from the crown estate from 2023 to 2024 and £1.05 billion from 2024 to 2025, according to the most delinquent report of the royal trustees on the sovereign grant.
The new 12% formula means the monarchy could obtain £124.8 million from 2025 to 2026 and £126 million the subsequent year.
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