Legacy ?
- ronnierennoldson
- Jul 29
- 3 min read
A question I have often asked about our royal family and its legacy has become more relevant since the coronation of King Charles III.
AI generated image of poundbury based on fair use of photo from Domus estate agents website and fair use accreditation to Westminster_Hall_interior By Tristan Surtel - Own work, CC BY-SA 4.0, commons.wikimedia.org.jpg
We are all used to the argument that the royal family represent the heritage of Great Britain and provide a focus for tourism: ‘Recent attempts to measure the size of the impact of the royal family on UK tourism have estimated the capital value of UK monarchy as a business to be £67.5 billion (up from £44 billion in 2012) and the annual contribution to the UK economy to be £1.766 billion. These estimates included indirect economic effects on tourism, trade, media and arts.’ *1
However, my concern lies with the contribution that our current royal family is leaving for future generations as it relies heavily on the reflected glory of past generations to justify its existence.
In 1952 when Queen Elizabeth II was crowned, the royal family oversaw colonies, the remnants of Empire and the Commonwealth of Nations. There was the Crown Estate (which invests in and runs the monarchy’s property) the Duchies of Lancaster and Cornwall and The Royal Collection (covering, among other precious items, its art collection). In addition, there are over 1000 years of monarch commissioned buildings starting with Westminster Hall, part of the Palace of Westminster and built in 1097 by William II.
Since the queen’s coronation the Crown Estate’s property value has escalated to 11 billion pounds, increasing since the global financial crisis of 2007 at a rate of 9.3 % p/anum. *2
In addition to the Crowns urban portfolio the Crown Estates rural and mining portfolio has swelled and it now owns over 280,000 acres; 60,000 acres more than it owned in 1958.*3
The Duchy of Lancaster, an estate of 45,549 acres in England and Wales established by King Henry III over 700 years ago, earned the queen 13.3 million pounds in private income,
and the Duchy of Cornwall, founded in 1337, valued its 53,400 acres also at a high point of 871 million pounds in March.
With huge increases in wealth past generations of British royals left monuments to their egos; numerous castles across the country, Hampton Court Palace, the Royal Pavillion in Brighton, Crystal Palace, and while Victoria's reign saw the transition of the monarchy towards a more symbolic and ceremonial role, under her rule, the British Empire aggressively expanded with significant territorial gains and influence across the globe.
In comparison our current royal dynasty commissioned the private residence for Prince Andrew and Sarah Fergusson in 1990 and still underway is King Charles III's influence on the private development at Poundbury in Dorset: a monument to his belief in the simplicity of 19c living, where tradesmen tipped their caps and knew their place.
Similarly, while Queen Elizabeth I is known to have commissioned plays from William Shakespeare e.g. the merry wives of Windsor, the coronation of King Charles III featured a new anthem by Andrew Lloyd Webber, personally commissioned by the King.
So, the question remains, with a huge wealth at King Charles III disposal what will his legacy be beyond amassing more wealth?. If he’s not careful he will be known primarily for his infidelity, protecting his family in the face of overwhelmingly damning evidence and the diminution of respect for the royal family leaving future generations of royals the task of witnessing the abolition of the monarchy and becoming financially self-supporting and accountable; just as Prince Harry and Meghan, Duchess of Sussex are doing.
Ironically, perhaps the last 70 years of underactivity is a good sign for the future health of a United Kingdom.
Notes:
3: ttps://web.archive.org/web/20130116063152/http://www.thecrownestate.co.uk/rural/what-we-do/
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