King Charles set for massive payday after secret 27m switch-up

King Charles has just received a major update on his annual earnings following a £27 million boost and major switch-up to his duties.

The 77-year-old receives annual core funding from the Sovereign Grant, and there's a major change for next year.

Prince Harry and William's father will be given just under £100 million in core annual funding for his official duties, it has been confirmed.

He will be paid £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 King.

Treasury minister Dan Tomlinson admits the King has significantly increased the number of engagements, explaining 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.

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.

The percentage of the Crown Estate’s net profits that go towards the Sovereign Grant will be around 20.5%, rather than 12%.

"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," according to the treasury minister.

The cost of refurbishing royal palaces was £18 million in 2016-2017, but will be £33.6 million next year, he said.