Today King Charles has declared that he will give back a proportion of immense windfall profits on land that should belong to us all in the first place... Are we supposed to be grateful? ✒️ FisherAndrew79 for ipaperviews
Why is that when the rich pay their taxes they make it sound like an act of benevolence? Even when they dodge their taxes, they laud a few crumbs in charitable donations as some great act of munificence., and is also exempt from income tax and capital gains tax, although Charles, like his late mother, does voluntarily pay some income tax.
And so today King Charles has declared that he will give back a proportion of immense windfall profits on land that should belong to us all in the first place. The Crown Estate has leased land for offshore windfarms off the coast of North Wales, Lancashire, Cumbria, Yorkshire and Lincolnshire – and expects to make an extra £1bn a year.
A Buckingham Palace spokesperson said: “In view of the offshore energy windfall, the keeper of the privy purse has written to the Prime Minister and the Chancellor to share the King’s wish that this windfall be directed for wider public good, rather than to the sovereign grant, through an appropriate reduction in the proportion of Crown Estate surplus that funds the sovereign grant.”
But bizarrely, the monarch owns the British seabed, not the Government. It was the Continental Shelf Act of 1964, under Conservative Prime Minister Sir Alec Douglas-Home, that legislated that, rather than the Government. And so now the seabed is being increasingly used for offshore wind farms, the Crown Estate is in for repeated windfalls. Moreover, the profits from the Crown Estate in turn determines the level ofMore from
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