King Charles III has provided a generous settlement to the distinguished Sir Edward Young, who found himself in the thick of Prince Harry's security dispute with the Home Office. Young received the payment upon exiting the royal household earlier this year, for his devoted service to the late Queen Elizabeth II.
The Royal Family made public their annual Sovereign Grant Report on their official website. It highlighted an account showing the former royal aide was awarded a substantial compensation package, estimated at between £145,000 and £150,000 [$183,000 to $190,000] in March 2023. The report also disclosed the royal family's receipt of £86.3 million ($109 million) in public funding for the financial year 2022-2023.
According to the statement, "The Rt Hon. Sir Edward Young departed the Royal Household on May 15, 2023, and received a compensation payment of £145,000-£150,000, which was accrued in these accounts at 31 March 2023. All pension payments relate to the defined contribution scheme or are payments in lieu of pension."
Young, labelled as Prince Harry's "nemesis" by Newsweek, enjoyed this generous redundancy package as a result of the merging of His Majesty's household with that of his late mother post her demise in 2022. Young served the royal household for 19 years, commencing as the principal private secretary to Queen Elizabeth in 2017, until her passing in 2022, following which he served as the joint principal private secretary to King Charles III.
Young, a pivotal figure in the royal echelon, managed the royal itinerary and coordinated significant events, while also liaising with the private secretaries of other royal households.
Upon his departure, Young expressed his gratitude, stating that he was "honoured to have served two sovereigns through historic times, and grateful for all the support and friendship of colleagues along the way." He looked forward to maintaining close ties post his exit from the Palace.
In addition to his financial settlement, King Charles III also conferred upon the 56-year-old a peerage, promoted him to a Lord-in-Waiting, and bestowed upon him the honour of being a Knight Grand Cross of the Order of the Bath and the Royal Victorian Order.
Consequently, Young transitioned from Sir Edward Young to Lord Young, earning him a seat in the House of Lords. He now holds the power to vote on legislation under discussion in the House of Commons.
The announcement of Young's departure coincided with the release of Prince Harry's memoir, "Spare", in which he subtly refers to three royal aides using insect metaphors. In his book, Prince Harry associated Young with 'The Bee', a figure that allegedly disrupted his scheduled meeting with Queen Elizabeth II in January 2020 and was involved in the decision to remove Prince Harry's security detail following his departure from royal duties.
