Prince William selling 20% of duchy property for housing and nature projects
Summary
Prince William is planning to sell 20% of the Duchy of Cornwall’s land over the next 10 years. The money raised, about £500 million, will be used to support local communities with affordable housing, environmental projects, and creating jobs.Key Facts
- The Duchy of Cornwall provides Prince William with over £20 million a year and owns 128,000 acres across 19 counties.
- Selling 20% of the property is expected to raise £500 million in total.
- Funds will go toward affordable housing, environmental efforts, and rural job creation.
- The Duchy aims to build 12,000 new homes by 2040, with one-third being affordable.
- £161 million will be invested in housing projects, and £123 million in workplaces and renewable energy like solar power.
- This plan reflects a shift towards creating social value and improving life where the land is located.
- The move follows public pressure for more transparency about royal finances, especially after recent scandals.
- The UK government’s funding for the Royal Household is expected to decrease next year but maintain protections for future funding levels.
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