King Charles is going ahead with his plans to shake-up the monarchy in a bid to modernise it, even if it means taking away privileges from working royals that they were used to.
As reported by the Evening Standard, the monarch is looking to slim down the monarchy’s finances and this includes eliminating subsidised rent and housing for working royals.
Charles wants the Monarchy to be “fit for purpose,” with one source telling the outlet, “The boss wants effective people in effective positions doing effective jobs being paid appropriately.” Charles is reportedly working closely with his son and heir to the throne, Prince William, to plan and enact the changes.
Per sources that told the outlet, Prince Harry and Meghan Markle’s eviction from their Frogmore Cottage earlier this month was merely “just the start” in the King’s five-year plan to streamline the finances through cost-cutting.
According to reports, following Charles’ coronation in May, two members of the palace staff — Vice-Admiral Sir Tony Johnstone-Burt, Master of the Household, and the Keeper of the Privy Purse Sir Michael Stevens — will begin looking at inefficiencies in what was described as a “top-heavy royal household.”
This would mean that many members of the Royal Family would have to pay their own rent and finance their homes along with any other personal expenditures.
Moreover, several extended family members have been using subsidised palace accommodations for London apartments for them and their children for years, and that is expected to come to an end.
Over time, that is going to change. Properties will be let at commercial rates going forward and to people outside the family. Where it is in a palace environment they will of course be security vetted,” a source told the Evening Standard.
The idea for the modernised monarchy is to decrease the number of royals financially dependent on the Crown and spend resources more efficiently and offer competitive salaries, benefits and pensions to members of staff and potential new hires.