The Prince of Wales is overseeing an "era of deep change" at the Duchy of Cornwall following criticism over multimillion-pound deals the landed estate struck with public bodies. William's duchy, which provides him with a private income of nearly £23 million a year, has launched a policy review of the rents it receives from charities and grassroots community groups.
Will Bax, the duchy's new secretary and keeper of records who took on the role at the start of 2025, revealed that grassroots groups such as an orchard used for therapeutic gardening who are direct tenants will have their rents waived. Local charities will see up to a 50% reduction in rent as part of the changes announced as the estate published its annual accounts on Monday.
Rent waivers for community groups
Bax said William wanted to ensure the duchy operated in a "modern, socially minded way" and that the rents being saved amounted to a "very significant sum". The changes follow an investigation last November by Channel 4's Dispatches and The Sunday Times which found the estates had secured rental agreements worth millions of pounds with the armed forces, the NHS and state schools.
The duchy is also looking at including schools in the community groups who would be eligible for the rent waiver. The investigation last year revealed the duchy was set to earn around £600,000 over the lifetime of six different leases agreed with local state schools.
William reflects on media scrutiny
William is the 25th Duke of Cornwall, following in the footsteps of his father the King after becoming entitled to the duchy's profits when he became heir to the throne. Bax said: "It would be remiss not to address the media scrutiny the duchy has experienced this past year."
"We've used these challenges as an opportunity to stop and reflect both the duke and I are clear that we want the duchy to be world class in our approach to supporting people, communities and nature to flourish," he added. He said the duchy must "operate and communicate in a modern, socially minded way" and that they had "entered an era of deep change".
Commercial relationships remain unchanged
The policy review will not alter commercial relationships with public bodies such as the Ministries of Defence and Justice. Bax said: "There are certain groups that we feel it right and proper that we have market based arms-length relationships with in public sector terms."
The Dispatches and Sunday Times report showed the duchy signed a £37 million deal in 2022 to lease Dartmoor Prison to the Ministry of Justice, paying £1.5 million a year over 25 years. It also revealed deals with the Ministry of Defence to allow the Armed Forces to train on Dartmoor land and charges to the Navy of nearly £1 million since 2004 to build and use jetties.
Duchy profits down slightly
Accounts released on Monday showed the duchy generated profits of £22.9 million, down £700,000 from £23.6 million the previous financial year. The money is used to fund the charitable, private and official lives of William, the Princess of Wales and their children Prince George, Princess Charlotte and Prince Louis.
Kensington Palace said the number of staff employed by the couple's household has risen to 68 from 66 including secondees. Diversity figures show 13.2% of staff were from an ethnic minority background, down marginally from 14% the year before, and that 70.6% of Kensington Palace staff are female.
Tax details remain private
The Palace confirmed the prince pays the highest rate of income tax once official costs have been deducted, but the amount he paid in tax was not disclosed. The King, as the previous Prince of Wales and Duke of Cornwall, disclosed the voluntary tax he paid in his annual Clarence House review - £5.892 million in 2021/22.
Charles's annual review would also detail his broad income and expenditure of the duchy money, plus details of household staff and his tax bill. But William has ended this level of disclosure since he became the Prince of Wales, and no such detail is provided for the Waleses's household.
Environmental and community projects
Other updates included news that water voles have been successfully reintroduced to the River Fowey's wetland corridor in Restormel after becoming extinct in the region in the 1990s. The Duchy is also working to improve rivers by tackling abandoned boats, with 11 removed from the River Avon so far and taken away to be recycled.
William also stepped in to help Cornish football team Mousehole AFC who were struggling with access to their club down a pothole-ridden lane. Emerging as a reader of The Guardian where he learned about the issue, William brought together a coalition of people to solve the problem, with construction work due to begin on a new road this week.
Criticism and Royal Warrants
Republic, which campaigns for an elected head of state, highlighted that William's £23 million a year income was 138 times more than the Prime Minister's salary. Graham Smith, Republic's chief executive, said: "It's time the Duchies were taken off royal hands, and it's time these figures were released by government to Parliament, where they can be properly scrutinised."
Meanwhile, Buckingham Palace confirmed the King has appointed William and Kate as grantors of Royal Warrants. Any of the King and Queen's current Royal Warrant holders can apply to be granted a further Royal Warrant from the prince and princess, with a deadline of the end of July, whilst firms without existing Royal Warrants will be able to apply next year.
(PA) Note: This article has been edited with the help of Artificial Intelligence.
