A new documentary by Channel 4’s Dispatches and the Sunday Times has unveiled details about the Royal Family’s finances, including rent received from the NHS, schools, and the armed forces.
The investigation reports that the private estates of King Charles and Prince William have generated millions of pounds from contracts with public bodies and charities.
Over the past year, these deals with the Duchies of Lancaster and Cornwall are said to be worth nearly £50 million. A spokesperson for the Duchy of Lancaster, King Charles’s private estate, stated that it “complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.”
The Duchy of Lancaster, established in 1399, and Prince William’s Duchy of Cornwall, established in 1337, both hold extensive land and commercial property in England and Wales. Their contracts include a £37 million agreement between the Duchy of Cornwall and the Ministry of Justice to lease Dartmoor Prison, and an £11.4 million deal between Guy’s and St Thomas’ NHS Trust and the Duchy of Lancaster to rent a London warehouse over 15 years.
The programme, Dispatches’ The King, The Prince and Their Secret Millions, reports that details of these rental agreements have not been disclosed to Parliament. The documentary also raises concerns about the environmental impact of some contracts, including those with mining companies.
These private estates are distinct from the Crown Estate. Profits from the Crown Estate, which is owned by the monarch but run independently, go to the Treasury. The Crown Estate’s profit level is used to determine the funding provided to the Royal Family via the Sovereign Grant, which is set to increase to £132 million next year after the Crown Estate’s profits rose to £1.1 billion.
A spokesperson for the Duchy of Cornwall emphasized their commitment to environmental sustainability and positive social impact, saying it 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.”
On the issue of mining, they stated that the duchy was “acting responsibly and in a sustainable way” in accordance with the government’s industrial strategy.
A spokesperson for the Duchy of Lancaster described it as operating “as a commercial company, managing a broad range of land and property assets across England and Wales.” They added that while the King “takes a close interest” in the duchy’s work, day-to-day management is the responsibility of the Duchy Council and executive team, noting several key environmental improvements made in recent years.
