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Prince William’s financial approach clashes with King Charles
Prince William’s financial approach contrasts with that of King Charles.
This week, royal accounts unveiled the extent of taxpayer funds allocated to support official duties of the Firm. Additionally, details of the monarch and William’s personal incomes were disclosed.
King Charles’ annual private income from the Duchy of Lancaster estate exceeded £27 million. This ancient portfolio includes land, property, and assets held in trust for the sovereign. In contrast,
Prince William received £23 million from his hereditary Duchy of Cornwall estate, formerly owned by Charles during his tenure as Prince of Wales.
Unlike his father, William has chosen not to disclose the amount of tax paid on his Duchy of Cornwall income, a practice Charles adhered to during his tenure.
It has been insisted that William does pay the ‘appropriate’ level of tax, which is believed to be more than his father paid.
According to The Telegraph, when asked why William didn’t reveal the amount, sources said it was “how they had opted to do it for now” and that it reflected “what was required”. But commentator and former BBC royal correspondent Peter Hunt questioned William’s decision to withhold more information about his Duchy of Cornwall finances than his father did.
He said: “Royal non-disclosure triumphs over transparency. William’s obsession with privacy trumps any concerns as to how this may look.” He warned: “The absence of answers to basic questions could prove unsustainable in the years ahead.”
The cash from the Duchy of Cornwall is used to fund William’s Kensington Palace household and represents the personal funds for the heir to the throne. But the accounts revealed yesterday also revealed William and wife Kate embarked on a campaign of philanthropy by making undisclosed personal donations to charities linked to the war in Ukraine, as well as to earthquake appeals in Turkey and Syria.
They also chipped in to make donations to the London Air Ambulance and other mental health charities.
It also emerged William was proving to be a modern Royal – by doing business over WhatsApp messages. Alastair Martin, the outgoing Secretary and Keeper of the Records for the Duchy of Cornwall revealed the Prince of Wales, 42, would communicate on the messaging platform – unlike his father, 77, who preferred phone calls.
