On January 8, 2020, the Duke and Duchess of Sussex have officially announced that they will be stepping down as “senior” royals and have resigned from their official duties. So, now the question is how Meghan Markle and Prince Harry are planning to earn money as they “breaking up” from the Royal Family?
Recently, the couple appeared in a rather controversial ITV documentary where they spoke at length about the perils and pressures of being a royal member. This was followed by the Sussexes taking an extended break from their Royal duties and spending Christmas and Thanksgiving away from the Royal Family in Canada. It was upon their return that the couple took to their official Instagram account to make the explosive announcement.
“After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as “senior” members of the Royal Family and work to become financially independent while continuing to fully support Her Majesty The Queen. It is with your encouragement, particularly over the last few years, that we feel prepared to make this adjustment,” they wrote.
Post their declaration, Prince Harry and Meghan Markle have clarified that they seek to achieve financial independence but it will take time “to transition in consultation with other senior members of the Royal Family”.
So, as they will be “members of the Royal Family with financial independence”, they will “no longer receive funding through the Sovereign Grant.” The Sovereign Grant is “the annual funding mechanism of the monarchy that covers the work of the Royal Family in support of HM The Queen including expenses to maintain official residences and workspaces.” In the past, it has covered five percent of the cost of The Duke and Duchess’ official office expenses but as it bounds them to not earn money on their own, “Their Royal Highnesses prefer to release this financial tie.”
“They value the ability to earn a professional income, which in the current structure they are prohibited from doing,” they wrote.
They also assured the public that “public funding has never been used, nor would it ever be used” for their private expenses and hence, they will still be paying for any travel and expenses on their own.
“Their Royal Highnesses are hopeful that this change is in the best interest for all and look forward to carrying out their duties to the monarch as well as their charitable work with financial autonomy,” they wrote.
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