SURGING offshore wind farm profits are set to give King Charles an £80million boost from the taxpayer.
He will rake in the cash despite his Sovereign Grant rate being slashed in half yesterday.
Funding of the monarchy is to be cut from 25 per cent to 12 per cent of the Crown Estate’s net profits, the Treasury announced.
But the change to the way the taxpayer-funded grant is calculated comes as new offshore wind deals are set to push profits above £1billion. His payment for the next year and 2024-5 is fixed at £86.3million.
But even under the new 12 per cent formula it will climb by about £40million in each of the following two years as surging income from wind farms push profts from the Crown Estate through the £1billion barrier.