King Charles and Prince William Rake received £543 crore from charities and public services, report says

(MENAFN- Live Mint) The private estates of King Charles and Prince William generate millions in income each year from public services and charities linked to the armed forces, the National Health Service and public schools, the BBC reported, citing a new Channel 4 documentary Dispatches. and The Sunday Times.

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According to the documentary, King Charles’ private estate, the Duchy of Lancaster, and Prince William’s estate in Cornwall are part of a deal worth nearly £50 million (equivalent to £543 crore).

However, the properties and their transactions “comply with all applicable UK laws and regulatory standards applicable to its range of activities”, a spokesman for the Duchy of Lancaster told the BBC.

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The Duchy of Lancaster has struck an £11.4 million deal to store a new fleet of electric ambulances, an investigation has found. The agreement was concluded with Guy’s and St Thomas’ NHS Foundation Trust in London, the BBC reports.

The investigation also found that since 2004, the Duchy of Cornwall had charged the navy more than £1 million for the construction and use of piers and the mooring of warships on the Cornish coast.

The six different leases provided by the duchy will generate around £600,000 over its lifetime.

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The Duchy of Lancaster is a portfolio of properties in England and Wales. It was founded in 1399. The land, property and assets are owned by the Sovereign Trust. Prince William’s Duchy of Cornwall is another portfolio founded in 1337. According to the BBC, it is worth more than £1 billion, providing income for the heir to the throne. Both estates are exempt from corporate or capital gains taxes.

The documentary Dispatches of the King, the Prince and Their Secret Millions provides insight into the lease agreements and claims details were not shared with Parliament. It also raises concerns about the environmental impact of some estate contracts.

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