King Charles is to be given almost £100m to fund the Royal Household.
According to a report by The Independent, the monarch will receive £99.9 million in core annual funding for 2027-28 after MPs approved changes to the formula used to calculate the Sovereign Grant.
The funding is intended to support the King's official duties and the work of the Royal Household.
The Sovereign Grant provides funding for staffing, official travel and the maintenance of occupied royal palaces.
It is paid from profits generated by the Crown Estate, with the remainder of those profits passed to the Treasury.
The move follows a review carried out by the Royal Trustees and approval by the House of Commons.
Under the new arrangements, the core annual grant will be set at £99.9 million in 2027-28.
Treasury minister Dan Tomlinson said the increase reflects both the expected costs of running the Royal Household and the growing number of duties being carried out by the King.
He noted that Queen Elizabeth II undertook fewer overseas engagements and state visits during the latter years of her reign, while Charles has significantly increased his programme of public appearances.
The updated funding model will also help address maintenance backlogs at royal properties and support investment in areas including cybersecurity and energy-efficient heating systems, ministers said.
Although the core funding is rising, overall royal funding is expected to decrease as the long-running Buckingham Palace refurbishment programme draws to a close.
The total Sovereign Grant currently stands at £137.9 million, including money allocated to the palace reservicing project.
The announcement is likely to renew debate over royal finances, with supporters arguing that the grant funds the monarchy's official functions while critics question the scale of public spending.
King Charles resides at Highgrove House in the Cotswolds, where he spends much of his private time when away from official duties.
The new £99.9 million core grant is due to take effect during the 2027-28 financial year.
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