In the interests of transparency, King Charles III has disclosed the amount of tax he pays.
Trouble is, the pinprick of light that has fallen on the royal finances tells us little about his true income or wealth. Rather than opening up his accounts to full democratic scrutiny, the revelations may just help divert attention away from a fat pay rise for Britain’s monarch at a time of national belt-tightening.
Charles is the first U.K. sovereign to lift the veil on their taxation, which might seem a sign of a new, more open era. The king, Palace spokespeople have briefed, is one of the country’s top 100 taxpayers, shelling out £12.9 million ($17 million) to Treasury coffers in the 2024-2025 financial year.
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