The increase in funding awarded to King Charles III by the government is completely unjustifiable, especially considering the financial struggles faced by millions of people due to rising costs of food, housing, and other necessities. While teachers and public servants have had to fight for a mere 6.5% below-inflation offer, the government has seen fit to offer the new king a staggering 45% increase starting in 2025. This increase, estimated to be around £38.5m, will take the sovereign grant from £86m to £125m, contradicting King Charles’s supposed commitment to reducing the monarchy’s size.
What makes the decision even worse is the way it was communicated. The government presented it as a pay cut by emphasizing the reduction in the percentage of crown estate profits received by the royal family, from 25% to 12%. However, the truth is that estimated profits of £1bn from offshore windfarm leases actually indicate a significant income growth for the crown estate, resulting in a substantial increase for the royals. This deliberate attempt to obfuscate the truth was criticized by Lord Turnbull, a former cabinet secretary, who called it out clearly.
Rather than accepting this generous settlement, the prime minister and chancellor should have insisted on a larger reduction in the percentage. The explanation that the funding increase would contribute to Buckingham Palace renovations seems conveniently timed. Additionally, the issue goes beyond the current sums involved. The system implemented by David Cameron 12 years ago, which allows the grant size to be negotiated by a small committee, including the prime minister, should be abolished.
For 250 years, parliament had a say in determining the size of the sovereign grant, but this was changed by Mr Cameron and George Osborne. Their decision to remove democratic oversight over this public expenditure, in favor of a pseudo-market mechanism connected to crown estate profits, was misguided. Furthermore, the inclusion of a “golden ratchet” clause ensures that the grant only rises and never falls, eliminating any accountability. This system needs to be dismantled, and parliamentary sovereignty and accountability should be restored.
While Mr Sunak might not be willing to give back this power to MPs, it is crucial that Sir Keir Starmer commits to reinstating parliamentary involvement in funding decisions for the head of state. This would ensure a more transparent and accountable process.
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