So to settle the confusion, the Duke and Duchess of Sussex provided answers on their website to the burning questions surrounding how this move toward monetary independence will impact their finances.
On SussexRoyal.com, Harry and Meghan explain that their decision will allow them to “earn a professional income,” which is a huge side-step from the current plan in place that prohibits exactly that.
Britain’s Prince Harry and Meghan Markle during a walkabout with Britain’s Prince Harry on the esplanade at Edinburgh Castle, Scotland, Tuesday, Feb. 13, 2018. The recently engaged couple are on a one day tour to Edinburgh, and will visit the Castle and observe the firing of the One O’clock Gun. (Andrew Milligan/Pool Photo via AP)
“For this reason they have made the choice to become members of the Royal Family with financial independence. Their Royal Highnesses feel this new approach will enable them to continue to carry out their duties for Her Majesty The Queen, while having the future financial autonomy to work externally,” the couple informs their readers.
In order to release the financial ties between the married couple and the rest of the British royal family, the couple will no longer be covered by the Sovereign Grant, which they explain covers “just five percent of the costs for The Duke and Duchess,” adding that it is “specifically used for their official office expense.”
Harry and Meghan explain that the current structure in place has prohibited them from earning “any income in any form,” which means they also have not benefited financially from their charitable causes around the world.
But a burning debate topic since their royal announcement is how this will affect public funding. The Duke and Duchess explain that public funding has “never been used, nor would it ever be used for private expenditure.”
The couple also insisted they “do not receive any tax privileges,” according to the website.
Archie’s parents explained the breakdown of their funding, explaining that 95 percent of their office expenses are “derived from income allocated by HRH The Prince of Wales, generated through the Duchy of Cornwall.” The remaining five percent came from the Sovereign Grant.
Moving forward, the couple announced that they will continue to pay for their own private travel as they “always’ have been, which will have no burden on the UK taxpayers, they said.
“Wherever possible and unless advised otherwise on security grounds, their logistical arrangements are undertaken via commercial air carriers, local trains and fuel-efficient vehicles, be it for official or personal travel,” the couple wrote.
Prince Harry and Meghan Markle stunned their royal family members by announcing on Wednesday that they plan to step down as “senior members.”
(Daniel Leal-Olivas/Pool Photo via AP)
Additionally, the Duke and Duchess of Sussex broke down how their current titles have impacted the U.K. taxpayer.
“The contribution from UK taxpayers towards the full overhead of the British monarchy is equivalent to approximately £1 per head per year,” they wrote.
As a result, the return on the investment is an “estimated £1.8 billion a year in tourism revenues for The United Kingdom,” the website states.
While Harry and Meghan’s announcement on Wednesday appeared to be a plan set in stone, chaos has ensued at the palace, as the queen released a statement downplaying the royals’ hasty exit.
“Discussions with The Duke and Duchess of Sussex are at an early stage,” a Palace spokesman told Fox News late Wednesday. “We understand their desire to take a different approach, but these are complicated issues that will take time to work through.”