UK's anti-monarchy group is targeting Prince William over the income he earned from the Duchy of Cornwall. Groups like Republic are questioning the Prince of Wales about him not publishing an annual, household report this year despite receiving over 6 million pounds as private income.
“William has some explaining to do because a change of monarch and heir is no excuse to row back on what little transparency there is. There is absolutely no reason why William’s household cannot provide a full set of accounts for this financial year. As the recipient of public funds from the state-owned Duchy he should be reporting his income and expenditure,” Graham Smith, chief executive of Republic said.
“As Duchy profits appear to be growing to a record £24million it’s time we demanded the return of the Duchies (of Cornwall and Lancaster) to the people and for revenue to be spent on local communities," he said.
Kensington Palace explained that the royals are planning and prioritizing for the Duchy and how these can support charitable priorities like The Royal Foundation and its programs.
“Their royal highnesses have been working through with their Duchy and household team their plans and priorities for the Duchy and the household in the years to come, and how these support their work and charitable priorities, such as The Royal Foundation and its programs. And it's why the household is not publishing a partial annual report,” a spokesperson of Kensington Palace said.
In the fiscal year 2022-23, the Duchy achieved an unprecedented level of earnings, reaching a remarkable sum of £24.048 million. This impressive figure indicates a noteworthy increase of £1.02 million compared to the previous year's earnings of £23.024 million, signifying a significant surge of approximately 4.5 percent.
The development came as it was reported on Thursday that the British crown lost half a billion pounds on its London property portfolio after the value of properties crashed.
