King Charles will not move into Buckingham Palace after its massive ten-year renovation finishes next year, royal officials confirmed. The decision breaks with nearly two centuries of British royal tradition.
The landmark property has served as the official London home for the ruling monarch since 1837. King Charles and Queen Camilla plan to maintain their permanent residence at nearby Clarence House.
Royal officials announced the decision during an official briefing on finances. The building is nearing the completion of a 369 million pound renovation project, which amounts to roughly 487 million dollars.
Specialized teams began working on the building in 2017 to replace ancient infrastructure. Contractors are replacing miles of decaying electrical wiring, aging water pipes, and obsolete heating systems.
When the major project started, officials expected the palace to remain the primary home for the sovereign. However, the king has opted to remain at his long-term residence.
The Keeper of the Privy Purse (KPP), James Chalmers, stated the landmark remains the operational hub. He told journalists that the building stays the primary venue for ceremonial functions.
Chalmers described the property as monarchy headquarters, noting the sovereign standard will fly when the king is in London. The facility continues to house the extensive royal bureaucracy.
Neither the king nor the late Queen Elizabeth have stayed overnight at the palace since 2019. The king will keep updated private rooms inside the property for occasional use.
Leaving the main residential quarters unoccupied allows the royal household to change how the facility operates. Officials intend to increase public access, and expand guided tours.
Approximately 700,000 people visit the site every year. Opening more rooms could draw significantly higher tourist numbers to the location, although officials did not provide specific scheduling details.
The structural updates aim to secure the building for another fifty years of operations. The palace features 775 rooms, providing massive office space alongside grand rooms for state dinners.
The financial briefing also revealed details regarding the royal family taxes. King Charles voluntarily paid income and capital gains taxes, a move intended to provide greater transparency.
He paid 11.7 million pounds in the 2023/24 financial year, with total payments exceeding 30 million pounds since ascending the throne in 2022.
Funding for the ongoing construction project comes through the Sovereign Grant (SG), which is tied to profits from the Crown Estate (CE).
The grant will peak at 137.9 million pounds in the 2026/27 financial year to cover the final phases of palace construction.
Public funding will drop to 100 million pounds in the 2027/28 financial period, following directives from the king to trim official expenses.
This adjustment ends a temporary funding formula change enacted in 2016, if we trace back to when the funding formula was altered to pay for the palace refit.
Critics from campaign groups like Republic argue that royal financial arrangements remain secretive despite these disclosures. They claim the updates raise further questions.
Other members of the family face scrutiny over property management, including Prince William, who recently disclosed his own tax contributions and local community rents.
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