King Charles and Prince William have been accused of making millions by leasing their land to cash-strapped public services.
A report in the Sunday Times claims the pair have used the Duchies of Lancaster and Cornwall to generate at least £50m by leasing land to services including the NHS.
The duchies, which are exempt from business taxes, fund the royals’ lifestyles and philanthropic work. They operate separately from the Crown Estate, whose profits go to the treasury.
While the Duchies of Lancaster and Cornwall have not broken any rules, the investigation highlights how the royals have profited as landowners.
Among the 5,400 leases is a 15-year agreeement with London’s Guy’s and St Thomas’ NHS hospital trust, which will pay £11.4m to store ambulances on duchy land.
The King’s Duchy of Lancaster is also set to make £28m from wind farms, while Prince William’s Duchy of Cornwall could net £37m by leasing Dartmoor prison to the Ministry of Justice for for 25 years.
The documentary Dispatches: The King, The Prince and Their Secret Millions, which aired on Saturday night, also revealed that cancer charities Macmillan and Marie Curie recently had to vacate Camelford House, a Thameside tower block owned by the Duchy of Cornwall since 2005.
The investigation also found that 14 per cent of properties leased by the Duchy of Cornwall and 13 per cent by the Duchy of Lancaster have an energy performance rating below E - the minimum standard required for landlords since 2020.
Both Charles and William pay income tax voluntarily, though the former has not published his taxes since ascending to the throne in September 2022.
The duchies, established in the 14th century, have remained largely unchanged, despite calls for reform. In 2005, a committee chaired by Tory MP Sir Edward Leigh recommended that Charles be stripped of his control over the Duchy’s affairs.
At that time, Tory member Sir Edward Leigh chaired a committee which recommended Charles be stripped of his power to control the Duchy’s affairs.
The report stated: “The current arrangements stem from the 14th century, and the resulting income is to that extent an accident of history.
“After more than 600 years, it would seem sensible for the Treasury to review whether these arrangements remain appropriate to present-day circumstances.”
A spokesperson for the Duchy of Lancaster said: “[The duchy] complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.”
This statement added: “His majesty the king voluntarily pays tax on all income received from the duchy.”
The Duchy of Cornwall added: “[It 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.”
