People Are Slamming Prince William For Not Disclosing $7.6M Salary To Public: ‘There Should Be No Excuse’

Prince William finds himself embroiled in a heated controversy as anti-royal groups in the U.K. raise concerns about his earnings from the Duchy of Cornwall. These groups argue that despite amassing over £6 million in private income, the Prince of Wales has failed to release an annual income report for the past year, prompting questions about transparency.

Graham Smith, chief executive of the anti-monarchist organization Republic, expressed his dissatisfaction, stating that “William has a responsibility to provide an explanation. A change in monarch and heir does not warrant a regression in the limited transparency we currently have. There is no valid reason why William’s household cannot produce a comprehensive set of accounts for this financial year. As a recipient of public funds from the state-owned Duchy, he should disclose his income and expenditure.”

Understanding the Duchy of Cornwall’s Role in Supporting the Heir to the Throne To comprehend the significance of this issue, it is essential to understand the nature of the Duchy of Cornwall. It is one of two duchies in England, the other being the Duchy of Lancaster. These duchies grant royalty the responsibility of managing the associated lands for commercial purposes. Typically, the eldest son of the reigning British monarch assumes control of the Duchy of Cornwall, being bestowed the title of Duke of Cornwall at birth or upon their parent’s ascension to the throne. King Charles, who became the monarch in 2022, had been the Duke of Cornwall for most of his life, with Prince William succeeding him in that role. Income from the Duchy traditionally serves as a form of “salary” for the heir apparent.

The Duke of Cornwall is prohibited from selling Duchy assets for personal gain, and as the Duchy is recognized as a crown body by the government, it enjoys exemption from corporate taxes—a point of contention for those challenging the monarchy’s rights to the land. Until his accession to the throne last year, Prince Charles voluntarily paid income tax on the surplus generated by the Duchy of Cornwall, after deducting official expenses at the highest tax rate. However, it appears that Prince William has chosen a different approach regarding his Duchy income.

Prince William Faces Backlash for Failing to Disclose Annual Duchy of Cornwall Earnings For the fiscal year 2022-23, the Duchy of Cornwall reported record-breaking earnings, surpassing £24 million—an impressive increase compared to the previous year’s income of £23 million. This revelation comes on the heels of reports suggesting that the British crown suffered a loss of approximately £500 million due to a decline in property values within its London portfolio.

Critics, who have taken note of Prince William’s failure to disclose his personal income or make a voluntary commitment to income tax payments like his father, find the lack of transparency unacceptable. Graham Smith further expressed his discontent, stating, “As Duchy profits continue to soar to a record £24 million, it is time we demand the return of the Duchies of Cornwall and Lancaster to the people, with the revenue being directed towards local communities.”

In response, Kensington Palace has stated that plans are underway to utilize the Duchy’s proceeds to support charitable institutions such as The Royal Foundation. A spokesperson for Kensington Palace emphasized that Prince William and his household are diligently working on their future plans and priorities for the Duchy, aligning them with their charitable objectives, including those of The Royal Foundation. This focus on mapping out their strategies is cited as the reason for the household’s decision not to publish a partial annual report at this time.

It is worth noting that despite Prince William’s choice, King Charles took the step of releasing his household’s financial review to the public on Thursday, further fueling the discussions surrounding transparency within the royal family.

As the debate rages on, Prince William finds himself navigating the storm of public scrutiny, while anti-royal groups continue to advocate for openness and accountability. Only time will tell how this controversy unfolds and whether the call for transparency will prevail.