King Charles and Prince William are secretly raking in millions of pounds from cash-strapped government departments, schools, the armed forces and even the NHS, a new investigation claims.
The latest Channel 4 Dispatches inquiry asserts that while the monarch and heir to the throne’s respective private estates – the Duchies of Lancaster and Cornwall, which generate £50 million a year – are not funded by the taxpayer, each receives ‘extensive’ amounts of money from public services.
Documents made public for the first time allegedly show how the Duchy of Lancaster is banking £11.4 million as part of a deal with Guy’s and St Thomas’ NHS Trust to house its new fleet of electric ambulances.
It also claims the Duchy of Cornwall has signed a £37 million deal to lease the currently inactive Dartmoor Prison to the Ministry of Justice, charged the navy more than £1 million to build and use jetties and moor warships, and stands to earn nearly £600,000 from rental agreements with state schools over the lifetime of six different leases.
The Duchy of Lancaster is a portfolio of land, property and assets across England and Wales held in trust for the Sovereign, including key urban developments, historic buildings, high-quality farm land and areas of great natural beauty, dating back to the 14th century.
The Duchy of Cornwall is a similar portfolio valued at more than £1 billion which provides an income for the heir to the throne.
Both estates are exempt from paying Corporation Tax or Capital Gains Tax.
Author and royal land expert Guy Shrubsole tells the documentary: ‘[It] strikes me as very odd, that ultimately, we, the taxpayer, are paying for the NHS to have a lease or a warehouse or whatever from the Duchy of Lancaster.
‘I think this asks quite searching questions about quite how they are making their profits. Why are there not peppercorn rents or social rents being charged for the NHS, for example?’
The King, The Prince & Their Secret Millions: Dispatches airs tonight at 8.10pm on Channel 4.
King and Prince of Wales ‘take money from charities they champion’
The investigation accuses the King and his heir of making money from the good causes they promote.
It alleges the Duchy of Cornwall has pocketed at least £22 million since 2005 from a share of the rents paid on Camelford House, which sits on the banks of the Thames.
The building is nicknamed ‘charity towers’ due to the number it houses.
But two cancer charities boasting the King as a long-term patron – Marie Curie and Macmillan – have both recently downsized, with the latter saying it wanted to free up funds.
Charles became patron of St John’s Ambulance last year, which the doc claims previously paid the Duchy of Cornwall almost £60,000 for use of its land.
The King is also patron of the RNLI and William and Kate are supporters – but the Duchy of Cornwall still charges it small amounts to use slipways in various corners of the South West.
Baroness Margaret Hodge, a former Labour MP and chair of the public accounts committee, told the programme: ‘In the court of public opinion, you always have to be cleaner than clean.
‘And if there is a question mark over a charity that has a royal patronage and therefore gains extra income, then that income is then used pay rent back to the royals, it just doesn’t feel quite right.’
Royal environment ‘hypocrites’
Both the King and Prince William have warned about our responsibility to protect the environment.
Charles has said: ‘Unless we rapidly repair and restore nature’s unique economy based on harmony and balance, which is our ultimate sustainer, our own economy and survivability will be imperilled.’
And William has added: ‘The shared goals for our generation are clear, together we must protect and restore nature, clean our air, revive our oceans, build a waste free world and fix our climate.’
But Dispatches says it has unearthed investments by their estates which threaten the same natural world they insist we desperately need to protect.
Collectively, the Duchies own thousands of mineral rights – and have cashed in by striking deals with controversial mining companies for sites across the country.
In Hingston Down, an area of outstanding natural beauty, the Duchy of Cornwall leases land to one of the biggest polluters in Europe.
Royals’ tenants ‘left shivering in cold and mouldy homes’
Working with the Mirror newspaper, the programme found that scores of properties being rented out by both Duchies failed to comply with minimum energy efficient requirements for landlords – leaving some tenants shivering in homes blighted by black mould and struggling with fuel poverty.
It found 14% of homes leased by the Duchy of Cornwall and 13% by the Duchy of Lancaster have an energy performance rating of F or G.
Since 2020, it has been against the law for landlords to rent out properties that are rated below an E under the Minimum Energy Efficiency Standards regulations.
Many failing properties emit huge amounts of carbon, which again impacts the environment.
One tenant said: ‘It gets miserably cold in winter. I can only heat two rooms in my home. The Duchy does not understand.’
A second added: ‘The house is cold, and it is a struggle but there is nowhere else to live here. They are not good landlords. When the wind blows the curtains start swinging. There’s no heating upstairs at all.’
‘Time for change’
Mr Shrubsole said: ‘I think the light you’re shedding on the goings on within the Duchies of Cornwall or Lancaster is crucial to generating more public debate.
‘I think it’s past time for the Duchies of Cornwall and Lancaster to ultimately be dissolved and folded into the Crown Estate. They have to give their profits to the Exchequer. And then some of that comes back to us, the taxpayer.
‘This isn’t about whether you think there should be a monarch or not. It’s simply about good management.’
Baroness Hodge said: ‘This would be a brilliant time for the monarch to say, I’m going to be open, and I want to be treated as fairly as anybody.
‘It’s public money, it’s taxpayer’s money – your money, it’s my money, it’s the viewers’ money.’
Charles’s annual income from the Duchy of Lancaster rose by 5% to £27.4 million in 2023/24, according to accounts published by the estate in July.
William received an annual private income of more than £23.6 million from the Duchy of Cornwall last year, accounts showed.
The income from both the duchies is separate from the taxpayer-funded Sovereign Grant which pays for the monarch’s official duties.
Neither the King nor the Prince of Wales are legally obliged to pay income tax but both have offered to do so.
A spokesperson for the Duchy of Lancaster said: ‘The Duchy of Lancaster operates as a commercial company, managing a broad range of land and property assets across England and Wales.
‘It complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.
‘The Chancellor of the Duchy of Lancaster is responsible to the Sovereign for the administration of the Duchy. However, he/she delegates certain functions, particularly those regarding asset management, to the Duchy Council.
‘While His Majesty The King takes a close interest in the work of the Duchy, the day-to-day management of the portfolio is the responsibility of the Council and executive team.
‘The Duchy has made a number of key environmental improvements in recent years, delivering a significant increase in the number of A+, A and B EPC ratings awarded to our properties as a result of refurbishment or restoration works.
‘Currently, over 87% of all Duchy let properties are rated E or above. The remainder are either awaiting scheduled improvement works or are exempted under UK legislation.
‘The financial and environmental performance of the Duchy is disclosed each year in our published Report and Accounts which are independently audited and freely available on the Duchy of Lancaster website.
‘His Majesty The King voluntarily pays tax on all income received from the Duchy, as did the late Queen Elizabeth II.’
A Duchy of Cornwall spokesperson said: ‘The Duchy of Cornwall is a private estate with a commercial imperative which we achieve alongside our commitment to restoring the natural environment and generating positive social impact for our communities.
‘Prince William became Duke of Cornwall in September 2022 and since then has committed to an expansive transformation of the Duchy.
‘This includes a significant investment to make the estate net zero by the end of 2032, as well as establishing targeted mental health support for our tenants and working with local partners to help tackle homelessness in Cornwall.’
The spokesperson added: ‘The Duchy is engaging with the critical minerals industry in Cornwall to respond to the UK Government’s Industrial Strategy.
‘We have granted a number of three-year exploration licences, and all licensees must ensure that their activities are in strict accordance with statutory requirements and meet high environmental standards.’
Buckingham Palace declined to comment.