Revealed: King Charles secretly profiting from the assets of dead citizens
Revealed: King Charles secretly profiting from the assets of dead citizens
www.theguardian.com
Revealed: King Charles secretly profiting from the assets of dead citizens
19 comments
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Isnt that like, the entire conceit of a king?
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The Westminster system is supposed to separate government/crown/state funds from royal/privy purse funds.
The royalty should not have the power to point at something and say 'I declare that mine'.
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If you want to ignore almost a millennium of constitutional push and pull over the limits placed on a monarch, sure.
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It's good to be the king.
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I guess the takeaway is to make sure you have a will.
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The Duchy of Lancaster, a controversial land and property estate that generates huge profits forKing Charles III,has collected tens of millions of pounds in recent years underan antiquated system that dates back to feudal times. -
Monarchy is such an outdated system
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Sounds like textbook money laundering/diversion of charity funds to me.
Don't give the money to the privy purse directly - spend it on upkeep/repairs/renovation of private property that the king can 'legitimately' collect rent on.
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This is the best summary I could come up with:
The king is profiting from the deaths of thousands of people in the north-west of England whose assets are secretly being used to upgrade a commercial property empire managed by his hereditary estate, the Guardian can reveal.
The Duchy of Lancaster, a controversial land and property estate that generates huge profits for King Charles III, has collected tens of millions of pounds in recent years under an antiquated system that dates back to feudal times.
The Guardian identified dozens of people whose money has been transferred to the king’s hereditary estate after they died in the north-west in places such as Preston, Manchester, Burnley, Blackburn, Liverpool, Ulverston and Oldham.
A Duchy of Lancaster spokesperson indicated that, following his mother’s death, the king endorsed the continuation of a policy of using bona vacantia money on “the restoration and repair of qualifying buildings in order to protect and preserve them for future generations”.
However, under a custom that has its roots in the medieval period, two hereditary estates, or duchies, belonging to the royal family can collect bona vacantia from people who die in two regions in England.
“The king reaffirmed that money from bona vacantia should not benefit the privy purse, but should be used primarily to support local communities, protect the sustainability and biodiversity of the land and preserve public and historic properties across the Duchy of Lancaster estates,” the spokesperson said.
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19 comments
Yeah, people who die with no heir typically get their stuff claimed by the state. This is pretty common around the world.
It usually goes into the state slush fund like tax revenue, AKA the crown.
In this case, it's claimed that it was 'donated to charity'.
In this case, it was being spent on upkeep/repairs/renovations on properties that are rented out, with the rent going to the 'privy purse' - the king's personal funds, not the state's funds. Spending the money to improve the properties directly increases the rent that can be charged, and offsets upkeep costs that would otherwise come out of the rent.
Money laundering.
Is it really money laundering when his (mom's) face is on the money?
And that's fine. In this case it's going to the King personally, however.
No, the article says it's going to the King's estate, i.e. the crown, not to the privy purse, i.e. Charles' pocket.
Is some of it being used that will ultimately benefit him? Probably. But according to the article, the policy governing this says any benefit to the king himself should be merely incidental.
This article does not appear to allege that they are violating that policy.