The King will be given just under £100 million in core annual funding for his official duties, it has been confirmed.
Charles, 77, will receive £99.9 million from the Sovereign Grant for 2027 to 2028, to support his official duties and the work of the Royal Household, including staffing, official travel and the maintenance of occupied royal palaces.
This money comes as a percentage of the profits of the Crown Estate, a collection of lands and property in the UK that belongs to the reigning monarch, with the rest going to the Exchequer.
Treasury minister Dan Tomlinson also said the King had “significantly increased” the number of engagements he is carrying out, as he outlined the changes to royal funding, which were initially raised back in June.
Dan Tomlinson explained that Queen Elizabeth II was not carrying out a large number of foreign engagements or state visits towards the end of her reign, so expenditure on public duties has now increased.
His comments came as the House of Commons approved a motion designed to update the formula for funding the British monarchy after a review by the Royal Trustees.
How the Sovereign Grant is changing for King Charles
For the 10 years to 2027, there was a temporary uplift to the grant to fund the Buckingham Palace reservicing programme.
With this work nearing completion, the overall Sovereign Grant will reduce from £137.9 million.
However, there has been a significant increase in the core funding to £99.9 million, up from £72.1 million in 2025-26 and £51.8 million in 2024-25.
© supplied by Royal Collection,Enterprioses LtdThe percentage of the Crown Estate’s net profits that go towards the Sovereign Grant will be around 20.5%, rather than 12%.
Treasury minister Dan Tomlinson said: “This recommendation was made based on an assessment of the Royal Household’s expected costs and the Crown Estate’s expected revenues between 2027 and 2032.
“The new level of the grant will ensure that the Royal Household can continue to deal with property maintenance backlogs following some years of constrained funding during the pandemic.
“It will also allow the Royal Household to replace ageing systems to strengthen cybersecurity and to install energy-efficient heating systems.”
The cost of refurbishing royal palaces was £18 million in 2016-2017, but will be £33.6 million next year, he said.
King Charles’s major staffing change
The King has been staying in Balmoral for his summer holiday, but will return to work on Wednesday for a meeting with the Pakistan National Cricket Team at Clarence House.
However, a change to his income isn’t the only difference Charles has been navigating in recent weeks.
© Getty ImagesHe is also bidding farewell to his equerry Jonny Thompson, who has served him for seven years within the royal household.
A Buckingham Palace spokesperson said on Tuesday: “Their Majesties were of course aware of this plan in advance and I know they are most grateful to Jonny for his support over the past seven years and wish him all the best for the future.”
At the same time, the King’s son, Prince Harry, has returned from the US with his wife Meghan Markle and children Archie and Lilibet after six years abroad.
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