Overview
- The Sovereign Grant report released on Thursday disclosed that King Charles III paid £12.9 million and Prince William paid £7.76 million in 2024–25, with cumulative figures since September 2022 reported at about £30 million for the King and £20 million for William.
- Buckingham Palace will remain the monarchy’s ceremonial and administrative hub but the King and Queen will base their London residence at Clarence House and keep access to a small number of private rooms inside the palace.
- The decision formalises a decade-long refurbishment project costing nearly £370 million to modernise wiring, heating and other core systems and to create new public spaces that the palace says will increase visitor access.
- Critics from both pro‑monarchy outlets and republican campaigners have attacked the move over optics and cost, while outlets including The Times have questioned how the disclosed tax figures were calculated and whether the reporting is fully transparent.
- The announcement is framed by palace officials as an attempt to rebuild trust after earlier royal scandals and follows National Audit Office scrutiny of royal property use; the Sovereign Grant will rise in coming years to help fund the works, with the Treasury signalling payments around £100 million next year.