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King Charles is rumoured to be planning “staff cutbacks” as he looks to modernise the monarchy and reduce expenses. With Charles being crowned in May, some of his reported plans as King have been revealed in the lead-up with several decisions being made behind the scenes. It is thought Charles is hoping to pay his staff more competetive salaries and pensions so he is able to get the best people for the jobs.

A source told the Evening Standard: “There will be staff cutbacks. That has already started. The buzz phrase is ‘value for money'”.

It is said to be part of a number of changes to save costs. Part of this plan is to reduce the number of royals with financial dependance on the crown, according to reports.

One senior figure said: “It is not about cuts, it is about getting the best value for money from those on the payroll. Sometimes less is more.”

Charles has already put some of his plans into action, including evicting Prince Harry and Meghan Markle from Frogmore Cottage.

The couple would use the royal property when returning to the UK for visits, but it will now be redistributed.

It is also thought that subsidised rent for royals will be eradicated over time, with the King wanting them to fund their own homes.

As well as this, he is understood to want funds from the Duchy of Lancaster, the portfolio of land, property and assets held in trust for the King, and the sovereign grant that covers the cost of royal travel on official engagements, to be spent more effectively.

Members of the Royal Family often benefit from subsidised palace accomodation, with even non-working family members enjoying some of the properties.

READ MORE: Royal fans can walk ‘barefoot’ on site of King Charles’s Coronation

The King’s focus over the next five years is said to be “making the monarchy fit for purpose”.

He is thought to be working closely with his son and future heir, Prince William on some of the decisions being made.

One insider said: “The staffing has been on the top-heavy side. That has built up over time, with advisers to advisers and so on. That’s all going to stop. The boss wants effective people in effective positions doing effective jobs being paid appropriately.”

The senior source added: “Much of what was in place doesn’t make economic sense and will be changed during the new reign.”