King Charles has become Britain’s first monarch in modern times to reveal how much tax he pays on his private income: £24.6m over the past two years. This is not a victory for transparency but a win for those who wish to keep the curtain drawn firmly over the royal finances.
What is presented as a radical move is in fact more obfuscation. The monarch says he has paid millions in tax, but has not disclosed the income, gains or deductions behind the bill. The royals are funded by taking a cut of crown estate profits – public money that would otherwise go to the Treasury. That amount is decided by three royal trustees: the prime minister, the chancellor and the keeper of the privy purse.
