45% pay hike: King Charles’ grant rises to ₹1,320 crore; anti-monarchists slam Royal Family
₹908 crore) to £125 million ( ₹1,320 crore). The review of Royal funding, published by the Treasury, had been framed to suggest that the King would be taking a pay cut to channel crown estate funds towards public services. However, in reality, the monarchy is due to receive a significant pay rise, starting in 2025, The Guardian reported.
“This is a time when people are having difficulty putting food on the tables," The Guardian quoted Norman Baker of the anti-monarchy group Republic as saying. “We’re actually providing more largesse for the royal family, who are really bloated in terms of their money." Republic chief executive Graham Smith has called the Treasury’s announcement as “grossly misleading". The sovereign grant will remain at £86.3 million for next year but is projected to increase by £38.5 million in 2025, reaching a total of £124.8 million.
In 2026, it is expected to further rise to £126 million. The formula, introduced in 2011 by the then prime minister David Cameron and chancellor George Osborne, ties the monarch's funding to a percentage of the crown estate's profits. The Royal trustees, consisting of the prime minister, chancellor and the King's financial adviser, decide this percentage, which has been set at 25% since 2017, leading to a steady increase in funding for the monarchy as the estate's profits rose.
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