Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Meghan, Prince Harry Have Fulfilled "Debt Obligations" On UK Home: Report

Meghan, Prince Harry Have Fulfilled "Debt Obligations" On UK Home: Report

The couple, the Duke and Duchess of Sussex, have faced criticism from some British media after they spent 2.4 million pounds on refurbishing Frogmore Cottage, set within the grounds of Queen Elizabeth's Windsor Castle west of London.

Britain's Prince Harry and his wife Meghan have met their "obligations" in regards to their British home and no more payments on the property will be needed for the time being, a senior Buckingham Palace source has said.

The couple, the Duke and Duchess of Sussex, have faced criticism from some British media after they spent 2.4 million pounds on refurbishing Frogmore Cottage, set within the grounds of Queen Elizabeth's Windsor Castle west of London, before they quit their roles as working royals at the end of March.

Harry, 36, and Meghan, 39, now live in California with their son Archie but have kept the Windsor home as their British base.

Earlier this month, their spokesperson confirmed they had made a contribution to cover its renovation costs, and the palace source, speaking on condition of anonymity, said that payment also covered rent, set at a commercial rate, which they owed from April.

"They have fulfilled their current obligations, their debt obligations in relation to Frogmore Cottage, and they have made a payment that will recognise that they have paid for the rental of that property for a number of years," the source said.

"There will be a point in the future when they would be expected to make further payments."

The disclosure comes as royal accounts released on Friday showed the queen's finances will take a hit over the next few years because of the coronavirus pandemic.

The Sovereign Grant, a taxpayer-funded contribution which covers staffing costs, upkeep of palaces and travel expenses, is based on 15 percent of surplus revenue from the Crown Estate, a property portfolio belonging to the monarchy, from two years previously.

In 2016, this was raised to 25 percent for a decade to pay for a major 10-year overhaul of Buckingham Palace. That provided the queen with 82.4 million pounds for the financial year 2019-20.

However, the Crown Estate's revenues have been hit by the COVID pandemic, meaning the Sovereign Grant figure of 86.3 million for 2021-2 would be frozen for the following year, as the funding formula means it cannot fall in absolute terms.

Michael Stevens, the queen's treasurer, known as Keeper of the Privy Purse, said they now forecast there would be a 20 million pound shortfall in the 369 million pound budget for the work at Buckingham Palace.

He also said they faced losing five million pounds per year for the next three years from other income, mainly the Royal Collection Trust which gets its funding from ticket sales to royal palaces that were closed during the coronavirus lockdown.

"In responding to both these financial challenges we have no intention of asking for extra funding and will look to manage the impact through our own efforts and efficiencies," Stevens said.

Among action being taken is a recruitment freeze for all but essential roles, and a payment freeze for all staff since April.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Hungary Ranked Among the World’s Safest Travel Destinations for 2025
×