Calls for inquiry into all royal finances after Andrew subletting revelations
MPs urged to push for ‘radical reform’ after NAO finds former prince made income from Royal Lodge properties
TL;DR
- Prince Andrew received undisclosed private income from subletting Royal Lodge cottages while paying a peppercorn rent.
- The National Audit Office (NAO) confirmed the rental income but could not determine the exact amount charged.
- Campaign groups and former ministers are calling for a public inquiry into all royal finances and a reform of royal accommodation.
- Princesses Beatrice and Eugenie also live in royal palaces with their rent privately paid by King Charles.
- The Crown Estate, a public property portfolio, is managed for public benefit, with profits going to the Treasury.
- A proportion of Crown Estate profits, the Sovereign Grant, funds royal official duties.
- Prince Andrew paid a £1m premium and £7.5m for renovations for his Royal Lodge lease.
- Sources suggest subletting did not generate profit but covered maintenance costs.
- Concerns are raised about the perception of royals receiving favorable deals or profiting from publicly owned property.
- The complexity of royal property ownership and funding mechanisms hinders public understanding.