King asks for Crown Estate profits to be used ‘for public good’

King Charles has asked for profits from a £1bn-a-year Crown Estate wind farm deal to be used for the “wider public good” rather than as a funding boost for the monarchy. The Crown Estate confirmed on Thursday it had signed lease agreements for six offshore wind projects that have the potential to power more than 7m homes. Under the taxpayer-funded sovereign grant, which is currently £86.3m a year, the King receives 25% of the Crown Estate’s annual surplus, which includes an extra 10% for the refurbishment of Buckingham Palace. It is not clear as to the exact amount of taxpayer funding the King has passed up, but it is likely to be many millions. The Guardian