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The private estates of King Charles and Prince Williams generate millions of revenue annually from public services and charities like the armed forces, the NHS, and state schools, reported the BBC, citing a new documentary Channel 4’s Dispatches and the Sunday Times.
According to the documentary, King Charles’s private estate of land, Duchy of Lancaster, and Prince Williams’s estate land in Cornwall are a part of a deal worth almost £50 million (equal to ₹543 crore).
However, the real estate properties and their deals “comply with all relevant UK legislation and regulatory standards applicable to its range of business activities”, a spokesperson for the Duchy of Lancaster told BBC.
According to the investigation, the Duchy of Lancaster struck a deal worth £11.4 million to store a new fleet of electric ambulances. The agreement was finalised with with Guy’s and St Thomas’ NHS Trust in London, reported BBC.
The investigation also revealed that the Duchy of Cornwall had charged the navy more than £1m since 2004 to build and use jetties and moor warships on the Cornish coastline.
The six different leases granted by the duchy will generate around £600,000 in wealth over the lifetime.
The Duchy of Lancaster is a real estate portfolio across England and Wales. The portfolio of land, property and assets is held by the trust for the Sovereign. Akin to Lancaster, Duchy of Cornwall is another portfolio which holds a value of more than £1 billion, which provides an income for the heir to the throne, according to BBC. Both estates are exempt from paying Corporation Tax or Capital Gains Tax.