Long before Charles III became King, people close to him were trailing the prospect of a “slimmed-down, modernised” British monarchy once he acceded to the throne.
So it was something of an about-turn when the Treasury announced last month that, far from cutting the royal cloth to match the times, the monarchy would instead be getting a pay rise of about 45 per cent.
The increase in public funding — from £86.3mn this year and next to £124.8mn in 2025-26 and £126mn in 2026-27 — is driven by one of the more contentious sources of royal income.
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