An in-depth investigation by The Sunday Times and Channel 4's Dispatches has brought the financial operations of King Charles III and Prince William's private estates into the spotlight, alleging that both royal family members are making millions from lucrative contracts with public services, including the National Health Service, armed forces, and state schools. The revelations have ignited debate in the U.K., with critics calling for significant reforms and questioning the royals' tax exemptions on these earnings.
The probe revealed that Charles and William reportedly generate revenue through the Duchy of Lancaster and Duchy of Cornwall, two extensive estates that provide income to the sovereign and the heir to the throne. According to the investigation, the Duchy of Lancaster, managed by Charles, brought in $35 million last year, while William's Duchy of Cornwall generated $30 million. The investigation alleges that this income stems from charging government departments, local councils, and other public entities for using royal-owned lands and assets.
In a joint report titled The King, The Prince & Their Secret Millions, Dispatches and The Sunday Times reported that these estates engage in what they describe as "feudal levies," with profits made by charging fees on various public services. Notably, the Duchy of Lancaster reportedly secured an £11.4 million, 15-year lease to store electric ambulances for Guy's and St. Thomas' NHS Foundation Trust in London, sparking outrage from critics. Dennis Reed, from the advocacy group Silver Voices, called the arrangement "disgraceful," stating, "It sounds rather like a money-grabbing activity. I would hope because of the publicity there will be a rethink in the royal household."
Further revelations include the Duchy of Cornwall reportedly charging the navy over £1 million since 2004 to build and operate jetties and moor warships on the Cornish coast, as well as securing approximately £600,000 from leases with state schools over the years. In addition, it was reported that the Duchy of Cornwall signed a £37 million deal with the Ministry of Justice for Dartmoor Prison, alongside an agreement allowing the Ministry of Defence to conduct training exercises on duchy-owned lands on Dartmoor.
The estates' financial structures and tax exemptions have become a focal point of criticism, with campaigners arguing that these royal assets, originally established in medieval times, should no longer serve as private revenue streams. Graham Smith, a spokesperson for Republic, a British organization advocating for a democratic alternative to the monarchy, stated, "The solution is quite simple, abolish the Duchies." Smith argued that the estates should be viewed as state assets and that their profits could instead benefit public funds, particularly in light of current economic pressures. "There needs to be a full inquiry and disclosure on the Duchies," he said.
Representatives for the Duchies defended the estates' operations, emphasizing their private status and commitment to following U.K. laws and regulations. "The Duchy of Lancaster operates as a commercial company, managing a broad range of land and property assets," a spokesperson said, adding that "the Chancellor of the Duchy of Lancaster is responsible to the Sovereign for the administration of the Duchy." For the Duchy of Cornwall, a spokesperson echoed this sentiment, stating that the estate functions with a "commercial imperative," while also seeking to restore natural environments and create a positive social impact.
The public outcry has grown as additional details about the estates' property holdings emerged, specifically concerning substandard energy efficiency in residential properties rented out by both duchies. Reports from The Mirror, which collaborated on the investigation, claim that 14% of properties under the Duchy of Cornwall and 13% of those managed by the Duchy of Lancaster have an energy efficiency rating below the legally mandated minimum. These findings have fueled criticism of the estates' practices, as it has been illegal for landlords in the U.K. to rent properties below an E rating since 2020.
Despite such criticisms, the royal estates have taken some steps toward modernization and sustainability. The Duchy of Cornwall has announced a plan to make its operations net-zero by 2032, an initiative led by Prince William since he became Duke of Cornwall in 2022. A Duchy spokesperson highlighted this ongoing transformation, which includes investments in mental health services for tenants and collaborations with local organizations to address homelessness in Cornwall. King Charles has also previously directed funds from renewable energy projects, including wind farms, toward public benefit, a move that received praise.
Critics, however, are calling for greater transparency and action. Opposition leaders and public commentators have urged Parliament to reevaluate the royal family's relationship with these historic estates. The combination of public scrutiny and calls for reform highlights the tension between tradition and modern expectations for accountability, particularly as the U.K. faces economic challenges and growing pressures on its public services.
