King Charles III of Great Britain is leaving Buckingham Palace. The King will not move there even after the 10-year restoration work at the palace is completed. He will continue to live at his Clarence House residence in London.
Modern.az reports that this decision puts an end to the tradition of Buckingham Palace being used as the main residence of British monarchs for nearly two centuries.
The palace will continue to be the main venue for official receptions and state ceremonies.
The King's Treasurer, James Chalmers, stated that Buckingham Palace will retain its status as the main headquarters of the monarchy, where foreign heads of state will be received and official events will be held. Special rooms will also be allocated in the palace for the King's use if necessary.
As part of the 369 million pound sterling restoration project, the palace's outdated electrical, water, and heating systems are being completely renewed. The renovation work is planned to be completed in 2027.
At the same time, the financial report of the royal family has also been released. According to the information, Charles III paid 12.9 million pounds sterling in taxes in the 2024/2025 financial year. He has paid a total of more than 30 million pounds sterling in taxes since his accession to the throne in 2022.
The Duchy of Lancaster, the King's main personal source of income, earned him 25.2 million pounds sterling in the 2025/2026 financial year.
In addition, the Sovereign Grant allocated for the financing of the royal family's activities was announced to be 137.9 million pounds sterling in 2026/2027. Along with this, at the request of Charles III, this amount is planned to be reduced to 100 million pounds sterling from 2027/2028.
Prince William's office announced that he paid 7.76 million pounds sterling in taxes in the 2024/2025 financial year.
