King Charles III to pay staff a $700 bonus to help with UK's cost-of-living crisis

King Charles III's staff will receive a bonus of up to £600 ($700) each to help with the cost-of-living crisis.

The bonuses, to be paid on top of this month’s salary, will amount to tens of thousands of pounds, according to newspaper reports.

Buckingham Palace declined to comment but it is understood that those whose income derives from the Privy Purse will receive their bonus from it, and those whose income comes from the Sovereign Grant will get their bonus from there.

Similarly, it is understood that those whose income comes from the Royal Collection Trust will receive their bonus from the trust.

Staff earning less than £30,000 ($35,000) a year will receive £600 ($700) in a one-off payment, those on between £30,000 and £40,000 ($47,000) will receive £400 ($300), and those who are paid between £40,000 and £45,000 ($53,000) will receive £350 ($400), the Sun said.

According to the royal accounts for 2020-2021, there are 491 full-time equivalent staff across the royal palaces paid for from the Sovereign Grant, with the wage bill coming to £23.7 million ($27m).

In June, a royal source said the royal family was “extremely conscious” of the crisis affecting the nation, with the then Prince of Wales paying very close attention to the matter.

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