Latest news with #SovereignGrant
Yahoo
13-07-2025
- Yahoo
The British Royal Train Will Be Decommissioned Soon—Here's Why
The British royal train will be officially decommissioned in March 2027 due to maintenance costs. The Royals will shift to using helicopters and scheduled trains for travel between residences across the U.K. Before its retirement, the royal train will go on a farewell tour of Britain, giving the public a chance to say travel is almost synonymous with British culture. But in March 2027, the current British royal train will be decommissioned, and senior royals will instead depend on helicopters and scheduled trains to travel around the country and between their residences. 'The process to decommission the Royal Train, in anticipation of the expiry of the current contract in March 2027, will commence during the year," the Sovereign Grant Annual Report 2024-25 states. "This decision has been made due to: the cost associated with the storage and maintenance of the Royal Train versus the level of usage; the significant level of investment which would be required to keep the Royal Train in operation beyond 2027; and the two new helicopters providing a reliable alternative." The current train was built in the 1970s and is in need of tailor-made refurbishment that would most likely cost tens of millions of dollars. The original royal train was built for Queen Adelaide, the widow of King William IV, in 1842. In 1869, Queen Victoria commissioned a bespoke train vehicle for herself, since she saw touring the country as an important part of her duties. For her Diamond Jubilee (a celebration of the 60th year of her reign) in 1897, the Great Western Railway built a train of six vehicles for Queen Victoria's use. Some people are surprised that King Charles, who is known for his environmental activism, would oversee the discontinuation of the train in favor of less sustainable options like helicopters. The announcement also comes, ironically, weeks before Britain will be celebrating the 200th anniversary of public rail travel in the country. But in the last year, the royal train only made two trips, compared to 55 private charter flights, 141 helicopter journeys, and a number of scheduled flights. However, the U.K. isn't alone or completely unique in its decision. Other European monarchies have let go of their royal carriage trains over the last 25 years, with only Denmark and Norway currently retaining them. And even in those two countries, the trains are rarely used. Train lovers and fans of the British Royal Family will have a last chance to see the royal train before it goes out of commission. Before its 2027 retirement, the Royal Train will make a final farewell tour of Britain, allowing the public to see it one more time as it passes. It is unclear what will happen to the royal train after it's decommissioned, but significant train cars are often preserved in museums, so there may be opportunities to see and visit this train again, sometimes in the future. Read the original article on Travel & Leisure
Yahoo
11-07-2025
- Business
- Yahoo
Harry & Meghan Just Seemingly Confirmed Reports They're ‘Running Out of Money' After the Duchess Revealed Her ‘Fear' of Going Broke
Is the cash running out for the Sussexes? New reports from royal sources say that Prince Harry and Meghan Markle are cutting back on staff because of their dire finances. Sources have told Page Six that the Duke and Duchess of Sussex have let go of several of their staff members. 'It's the same old story – they cycle through staff as quickly as normal people cycle through toilet paper. Milk lasts longer than their employees,' said one royal source. The couple's $100 million Netflix deal is also supposed to be up this year. ' More from StyleCaster King Charles Just Hinted He's Officially Disowned Harry After Seemingly Claiming He Only Has 1 Son William & Kate's Friends Reveal the 'Only Solution' for Their Feud With Harry & Meghan: 'It's Worked Before...''This isn't strategy — it's survival,' one source told celebrity gossiper Rob Shuter. 'They're running out of money, and now they're running out of people.' Another royal source said that layoffs were inevitable for the former royal family members. 'They don't have the money to keep the team they built,' the source said. 'They tried to recreate the royal court — but California doesn't do crowns on credit.' Page Six also reports that the team lost Kyle Boulia, their Los Angeles-based deputy press secretary, and Charlie Gipson, their European communications director. Other losses include Deesha Tank, Archewell's director of communications and Lianne Cashin, formerly head of operations at Archewell. Two anonymous staff members were also let go. Prince Harry's shared net worth with Meghan Markle is estimated to be around $60 million, according to Celebrity Net Worth. When he left the royal family, he and Meghan announced their plan to be 'financially independent' and no longer take money from streams like the Sovereign Grant. Much of his net worth before his big move to America came from his father, King Charles III, who at the time controlled the Duchy of Cornwall, a portfolio of property and financial investments that brought in £21.6 million (or $29.8 million) in 2019. From 2018 to 2018, Harry's annual allowance from Duchy, which he shared with Meghan, was £5 million or $6.9 million. This paid for Harry and Meghan's public duties as working members of the royal family, such as wardrobe and travel, as well as private costs. The other 5 percent of Harry's income came from the Sovereign Grant, which is tax-payer funded and paid from the government to the royal family to cover expenses for official duties, as well as the royal palace. According to the BBC, the grant is worth £82.4 million (or $114,004 million). Meghan Markle's net worth before she shared with her husband was estimated to be $5 million in 2017. Most of her net worth came from her acting career when she starred in Suits. In her podcast, Confessions of a Female Founder, Markle got candid about her 'fear' of not having enough money. 'So many women, especially, we're taught to not even talk about money,' the Duchess said. 'And there's lots of guilt mentality surrounding having a lot.' 'And at the same time, there's a scarcity mindset that it's easy to attach to, of like 'I'll never have enough,'' she continued. She also mentioned her As Ever brand, adding that it was hard running her own business, 'When you only have yourself to answer to I think it's twofold. It can be incredibly liberating or it can be incredibly lonely.' She continued, 'There's a misconception that you need to go to Harvard Business School and have a lot of money and get all the best people behind you [to be successful in business]… So you talk yourself out of it.' Best of StyleCaster The 26 Best Romantic Comedies to Watch if You Want to Know What Love Feels Like These 'Bachelor' Secrets & Rules Prove What Happens Behind the Scenes Is So Much Juicier BTS's 7 Members Were Discovered in the Most Unconventional Ways
San Francisco Chronicle
03-07-2025
- Business
- San Francisco Chronicle
The Royal Train will end 156 years of service as King Charles III seeks to economize
LONDON (AP) — The Royal Train will soon leave the station for the last time. King Charles III has accepted it's time to decommission the train, whose history dates back to Queen Victoria, because it costs too much to operate and would have needed a significant upgrade for more advanced rail systems, Buckingham Palace said Monday. 'In moving forwards, we must not be bound by the past,'' said James Chalmers, the palace official in charge of the king's financial affairs. 'Just as so many parts of the royal household's work have modernized and adapted to reflect the world of today, so too the time has come to bid the fondest of farewells, as we seek to be disciplined and forward-looking in our allocation of funding.'' The train, actually a suite of nine railcars that can be hitched to commercial locomotives, will be decommissioned sometime before the current maintenance contract expires in 2027. That will bring to an end a tradition that dates back to 1869, when Queen Victoria commissioned a pair of special coaches to accommodate her travels. The decision was announced during the palace's annual briefing for reporters on the royal finances. The royal family will for the fourth consecutive year receive public funding of 86.3 million pounds ($118 million), including 34.5 million pounds to fund the remodeling of Buckingham Palace, in the 12 months through March 2026. This money comes from a mechanism known as the Sovereign Grant, which sets aside 12% of the net income from the Crown Estate to fund the official duties of the king and other members of the royal family. The Crown Estate is a portfolio of properties that are owned by the monarch during his reign. The properties are professionally managed and the king can't dispose of the assets. The Crown Estate is one of the many relics of Britain's feudal past. King George III, who ruled during the American Revolution, surrendered management of the crown lands to Parliament in 1760 in return for a fixed payment from the Treasury. The royal finances remain a topic of public debate, with Charles pledging to slim down the monarchy and cut costs as he seeks to ensure the institution's survival. Buckingham Palace was quick to point out that while the Sovereign Grant has been unchanged for the past four years, inflation has eroded its value. If the grant had increased in line with inflation, it would have been about 106 million pounds this year, the palace said. The basic grant was supplemented with 21.5 million pounds ($29.5 million) of income generated by properties outside the Crown Estate. This income increased by 1.7 million pounds, driven by a record year for visitors to Buckingham Palace and special tours of the newly renovated East Wing. Craig Prescott, a constitutional law expert at Royal Holloway, University of London who focuses on the political role of the monarchy, said funding for the royals is relatively small when compared to the overall cost of the British state and it provides tangible benefits for the country. 'It's something that puts Britain on the world stage in a way that few other things do,'' he said, noting that Queen Elizabeth II's funeral was the largest gathering of world leaders in history and the coronation was broadcast around the world. 'It's one of those things that people think about when they think about Britain.'' Over the past year, Charles traveled to Australia and attended the Commonwealth Heads of Government Meeting in Samoa — his first as the organization's head. The royals also took center stage at the 80th anniversaries of D-Day and V-E Day, which marked the end of World War II in Europe, and welcomed the leaders of Japan and Qatar as they made state visits to the U.K. Overall, the royals made 1,900 public appearances in the U.K. and overseas. About 93,000 guests attended 828 events at the royal palaces.
Daily Mirror
03-07-2025
- Business
- Daily Mirror
'Royal family doesn't cost taxpayer too much - tourists want monarchist power'
The annual royal accounts have revealed the Firm cost the taxpayer £86.3 million last year, as King Charles derails the Royal Train in a bid to save cash - and we asked Mirror readers to share their thoughts The royal family spent a staggering £2.7 million on travel last year, including journeys by private jet, helicopter, and train, the newly released royal accounts have revealed - and we asked Mirror readers if the Firm is costing the taxpayer too much. Last year's accounts show that the royals cost the taxpayer £86.3 million for the fourth consecutive year, while the King and Queen's trip to Australia and Samoa in October came with a hefty £400,000 price tag. Following the publication of the annual accounts, it was announced that King Charles plans to derail the Royal Train after nearly 125 years of service in a bid to save cash. The nine-carriage locomotive, which was once Queen Elizabeth II's preferred mode of travel, was only in action twice in the last year but cost £78,000. It comes as the King attempts to "modernise" the Royal Family, as Keeper of the Privy Purse James Chalmers said: "The time has come to bid the fondest of farewells as we seek to be disciplined and forward-looking in our allocation of funding." The Sovereign Grant, which pays for the royal family's official duties and the upkeep of royal palaces, is met from public funds in exchange for the King's surrender of the revenue from the Crown Estate. The royals then in return get 12 per cent of this revenue back to run their affairs including travel, engagements at home and abroad and welcoming tens of thousands of people to the royal palaces. Record offshore wind farm profits have seen the Crown Estate net profits for the last financial year and hit £1.1 billion - meaning a record breaking Sovereign Grant of £132million will be handed out next year and the year after. Palace aides say the extra cash will go towards paying for the £369million refit of Buckingham Palace and the upkeep of other royal residences. However, former Minister of State for Home Affairs Norman Baker slammed Buckingham Palace 'pretending to be prudent' as 'utter hogwash'. He wrote in the Mirror: "Reality check: the Crown Estate has in effect been a public body since 1760, and until 2011, 100% of its profits went to the Treasury to pay for schools, hospitals, defence and, yes, disability benefits. This 12% is a new royal tax on the public purse." We asked Mirror readers if they think the royal family is costing the taxpayer too much, and 62 percent said 'No'. Around 3,169 people took part in our poll, and 1,955 selected the option 'No - I don't think so'. Voicing their thoughts in the comments section, one user said: 'The RF are the head of the UK and I love what we have, I am a royalist and I'm very proud to say so. I think the RF bring a lot of tourists to our country. King Charles has scaled down the working royals and has been scaling down on some ceremonies and Prince William has plans to scale back even more and wants to modernise the RF and make it less austere, it seems William and Catherine are doing that already.' Another echoed: 'Westminster Abbey, one of the most popular attractions for oversees tourists, a symbol of British history & the final resting place of revered monarchs, including Queen Elizabeth I & her half sister Queen Mary & famed British icons (Charles Dickens). An unprecedented symbol of hierarchical succession & constitutional monarchy with every coronation conducted there & all monarchs anointed. Tourists want to see symbols of monarchist power, influence & status.' 'Many presidents of other countries are costing a lot more. If you don't take my word, do your research. On top of that tourists don't go visiting countries wanting to see any president, but they may do to see a king. Also The cost isn't only about the king head of state, but other working royals doing complimentary work for the king,' wrote a third. Another added: 'If the Royals bring in more from tourism than is spent on them, that has got to be a win." However, 38 percent said the Firm is costing the taxpayer too much, as one reader fumed: 'All of the information out there and people still believe we aren't giving these over privileged people too much money, throwing millions at them each year doesn't make them any better.' Get Royal Family updates straight to your WhatsApp! As the royals get back to their normal duties after a difficult year, the Mirror has launched its very own Royal WhatsApp community where you'll get all the latest news on the UK's most famous family. We'll send you the latest breaking updates and exclusives all directly to your phone. Users must download or already have WhatsApp on their phones to join in. All you have to do to join is click on this link, select 'Join Chat' and you're in! We may also send you stories from other titles across the Reach group. We will also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose Exit group. If you're curious, you can read our Privacy Notice. A second wrote: 'It is absolutely ridiculous to believe anyone is coming to the UK to catch a glimpse of the King! or the Royal Family! They aren't in a zoo and they aren't magical beings from Fairyland. How absurd. No matter how you feel about elected Heads of State, at least they aren't automatically put in office just for coming out of the womb, and getting oiled up while pals hold up the sheets. Nobody's spending money and wasting time coming to Britain for that.' Another voiced: 'The monarchy supporters distort the figures. Vastly over estimate any money they bring in (if any), under estimate what they cost. If they were abolished the country would benefit from the companies they own and the taxes they don't pay.' Do you think the royal family is costing the taxpayer too much? Let us know your thoughts in the comments section below and you can still vote in our poll HERE to have your say. Please note that the poll is still live, so these results may change after the article has been published.
The Mainichi
02-07-2025
- Business
- The Mainichi
Royal train will end 156 years of service as King Charles III seeks to economize
LONDON (AP) -- The Royal Train will soon leave the station for the last time. King Charles III has accepted it's time to decommission the train, whose history dates back to Queen Victoria, because it costs too much to operate and would have needed a significant upgrade for more advanced rail systems, Buckingham Palace said Monday. "In moving forwards we must not be bound by the past,'' said James Chalmers, the palace official in charge of the king's financial affairs. "Just as so many parts of the royal household's work have modernized and adapted to reflect the world of today, so too the time has come to bid the fondest of farewells, as we seek to be disciplined and forward-looking in our allocation of funding.'' The train, actually a suite of nine railcars that can be hitched to commercial locomotives, will be decommissioned sometime before the current maintenance contract expires in 2027. That will bring to an end a tradition that dates back to 1869, when Queen Victoria commissioned a pair of special coaches to accommodate her travels. The decision was announced during the palace's annual briefing for reporters on the royal finances. The royal family will for the fourth consecutive year receive public funding of 86.3 million pounds ($118 million), including 34.5 million pounds to fund the remodeling of Buckingham Palace, in the 12 months through March 2026. This money comes from a mechanism known as the Sovereign Grant, which sets aside 12% of the net income from the Crown Estate to fund the official duties of the king and other members of the royal family. The Crown Estate is a portfolio of properties that are owned by the monarch during his reign. The properties are professionally managed and the king cannot dispose of the assets. The Crown Estate is one of the many relics of Britain's feudal past. King George III, who ruled during the American Revolution, surrendered management of the crown lands to Parliament in 1760 in return for a fixed payment from the Treasury. The royal finances remain a topic of public debate, with Charles pledging to slim down the monarchy and cut costs as he seeks to ensure the institution's survival. Buckingham Palace was quick to point out that while the Sovereign Grant has been unchanged for the past four years, inflation has eroded its value. If the grant had increased in line with inflation, it would have been about 106 million pounds this year, the palace said. The basic grant was supplemented with 21.5 million pounds ($29.5 million) of income generated by properties outside the Crown Estate. This income increased by 1.7 million pounds, driven by a record year for visitors to Buckingham Palace and special tours of the newly renovated East Wing. Craig Prescott, a constitutional law expert at Royal Holloway, University of London who focuses on the political role of the monarchy, said funding for the royals is relatively small when compared to the overall cost of the British state and it provides tangible benefits for the country. "It's something that puts Britain on the world stage in a way that few other things do,'' he said, noting that Queen Elizabeth II's funeral was the largest gathering of world leaders in history and the coronation was broadcast around the world. "It's one of those things that people think about when they think about Britain.'' Over the past year, Charles traveled to Australia and attended the Commonwealth Heads of Government Meeting in Samoa -- his first as the organization's head. The royals also took center stage at the 80th anniversaries of D-Day and V-E Day, which marked the end of World War II in Europe, and welcomed the leaders of Japan and Qatar as they made state visits to the U.K. Overall, the royals made 1,900 public appearances in the U.K. and overseas. Some 93,000 guests attended 828 events at the royal palaces.
