London (Parliament Politics Magzine) – King Charles and Prince William have been blamed for making millions by renting their land to cash-strapped public services.
According to a report in the Sunday Times the pair have employed the Duchies of Lancaster and Cornwall to forge at least £50m by leasing land to services including the NHS. The duchies, which are excused from business taxes, support the royals’ lifestyles and philanthropic work. They function separately from the Crown Estate, whose earnings go to the treasury.
While the Duchies of Lancaster and Cornwall have not broken any laws, the investigation underscores how the royals have profited as landowners.
How much income is generated from duchy land leases?
Among the 5,400 leases is a 15-year contract with London’s Guy’s and St Thomas’ NHS hospital trust, which will spend £11.4m to store ambulances on duchy land. The King’s Duchy of Lancaster is also put to make £28m from wind farms, while Prince William’s Duchy of Cornwall could net £37m by renting Dartmoor prison to the Ministry of Justice for 25 years.
The documentary Dispatches: The King, The Prince and Their Secret Millions, which aired on Saturday night, also demonstrated that cancer charities Macmillan and Marie Curie recently had to vacate Camelford House, a Thameside tower block possessed by the Duchy of Cornwall since 2005.
The investigation also discovered that 14 per cent of properties leased by the Duchy of Cornwall and 13 per cent by the Duchy of Lancaster have an energy routine rating below E – the minimum standard needed for landlords since 2020. Both Charles and William spend income tax voluntarily, though the ex-has not published his taxes since climbing to the throne in September 2022.
What historical context surrounds the Duchies’ arrangements?
The duchies, founded in the 14th century, have remained largely intact, despite calls for reform. In 2005, a committee headed by Tory MP Sir Edward Leigh suggested that Charles be stripped of his power over the Duchy’s affairs.
The report said:
“The current arrangements derive from the 14th century, and the resulting income is to that extent an accident of history. After more than 600 years, it would seem reasonable for the Treasury to review whether these arrangements remain appropriate to present-day circumstances.”