New reports on the finances of Britain’s royal family and its ancient property portfolio have revealed a double dose of good news for the household, which has been destabilized by illness and injury in recent months. Profits from the Crown Estate, which oversees the royal family’s massive land and property holdings, jumped to £1.1 billion (about $1.4 billion) from £442.6 million in the previous year, according to the estate’s annual report, mainly thanks to deals involving the leasing of seabed sites to offshore wind producers. As a result, the money the royal family receives from the government — known as the sovereign grant — will rise to £132 million in 2025-2026, up from £86.3 million in recent years. For centuries, net profits from the Crown Estate have been passed to the government, in return for a fixed yearly payment to fund the royal family and its duties. Since 2012, this payment has taken the form of the sovereign grant, which is calculated as a percentage of the estate’s profits.

Source: The Times July 24, 2024 03:44 UTC