Details published by Treasury show royal family’s grant is expected to increase from £86m to £125m in 2025

King Charles III is to receive a huge pay rise from the UK taxpayer, according to government plans to boost public funding of the monarchy by 45% from 2025.

Details of the increase, which comes against the backdrop of a cost of living crisis, were contained in a review of royal funding published by the Treasury on Thursday. It revealed the royal family’s grant is due to increase from £86m to £125m.