The monarchy is to receive a boost of more than £45 million, with a 53% jump in its official annual income to more than £130 million.

Soaring profits from the Crown Estate to £1.1 billion mean the taxpayer-funded Sovereign Grant, which supports the official duties of the royal family, will increase from £86.3 million in 2024/2025 to £132 million in 2025/2026.

Officials said the increase will be used to help fund the final stages of the 10-year £369 million renovation of Buckingham Palace, keeping it on time and budget.

Author Norman Baker says King Charles' £45 million pay-rise is a “disgrace” and that he “should be ashamed of himself”.

“The attitude of Charles and the palace officials is to maximise the amount of money they can take from the public purse.”

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