DIRS.INFO The most relevant business & tech news

☆ King Charles’ coronation: Britain forked out $91 million in the middle of a cost-of-living crisis
▼ + stars: | 2024-11-22 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The coronation of King Charles III and Queen Camilla held in May last year cost British taxpayers £72 million ($91 million), an amount some have labeled excessive. The £72 million spent on the coronation could have paid for 24 million free meals for schoolchildren in London, based on the city government’s current budget of £3.00 ($3.75) per meal. Some additional spending came from the Privy Purse, the monarch’s private source of income, a royal source told CNN. “Plans (for the coronation) were scaled back,” the royal source told CNN. The culture department, in its accounts, said it had underspent its budget on the coronation by £2.8 million ($3.5 million).

Persons: King Charles III, Queen Camilla, Queen Elizabeth II, Finnbarr Webster, ”, Graham Smith, Sovereign Grant —, Sovereign Grant, “, Elizabeth II’s, Max Foster Organizations: London CNN, Department for Culture, Media, Sport, Home Office, Volunteers, Republic, CNN, Sovereign, CNN’s Royal Locations: United Kingdom, Weymouth , England, British, London, Lancaster, London’s Westminster

☆ The British monarchy steps up efforts to go green with solar panels on palaces and biofuel-powered Bentleys
▼ + stars: | 2024-07-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

And, fittingly, in the first full year of his reign, the British monarchy introduced a slew of measures to tackle its rising carbon emissions. The King’s two Bentleys will also be modified within the next year to run on biofuel, according to Britain’s PA Media. The Royal Household aims to transition to an “almost fully electric” fleet of vehicles eventually, the accounts said, without providing a target date. Whether biofuels used for vehicles reduce carbon emissions is contentious and depends on many factors, including their source. Crown Estate profits soared in the 2023-24 financial year to a record £1.1 billion ($1.4 billion), boosted by revenue from offshore wind projects.

Persons: London CNN — King Charles III, Prince Harry, Meghan, —, Charles ’, Sovereign Grant —, Sovereign Grant, Angela Dewan Organizations: London CNN, Royal, Windsor Castle, Britain’s, Media, Royal Household, SAF, Sandringham Estate, Sovereign, Northern Ireland — Locations: British, Windsor, Windsor Castle —, Sandringham, United States, London, England, Wales, Northern Ireland

☆ U.K. Royal Family Gets Financial Boost From Offshore Wind and Palaces
▼ + stars: | 2024-07-23 | by ( Stephen Castle | ) www.nytimes.com time to read: +1 min

New reports on the finances of Britain’s royal family and its ancient property portfolio have revealed a double dose of good news for the household, which has been destabilized by illness and injury in recent months. Profits from the Crown Estate, which oversees the royal family’s massive land and property holdings, jumped to £1.1 billion (about $1.4 billion) from £442.6 million in the previous year, according to the estate’s annual report, mainly thanks to deals involving the leasing of seabed sites to offshore wind producers. As a result, the money the royal family receives from the government — known as the sovereign grant — will rise to £132 million in 2025-2026, up from £86.3 million in recent years. For centuries, net profits from the Crown Estate have been passed to the government, in return for a fixed yearly payment to fund the royal family and its duties. Since 2012, this payment has taken the form of the sovereign grant, which is calculated as a percentage of the estate’s profits.

Search resuls for: "Sovereign Grant —"

3 mentions found