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  King Charles III in Camberley, England. Dan Kitwood | Getty Images Entertainment | Getty Images LONDON — Britain’s King Charles III is set for a bumper £45 million ($58 million) pay raise after profits at the sovereign’s public estate more than doubled, according to official records. Profits of The Crown Estate — a portion of which funds the monarchy — increased 148% from £443 million in 2022-23 to £1.1 billion ($1.4 billion) in 2023-24, an  annual report  showed Wednesday. These bumper profits mean the taxpayer-funded Sovereign Grant, which supports the official duties of the King Charles-headed Royal Family, will rise more than 50% from £86.3 million in 2024-25 to £132 million during the following year. The Crown Estate, the national portfolio of historical and commercial land-holdings, is owned by the British monarch but managed independently and its revenues are given to the government. In exchange, the monarchy currently  receives 12%  of Crown Estate profits — a proportion calc

  Outgoing Conservative Prime Minister Rishi Sunak speaks to the media as he leaves 10 Downing Street following Labour’s landslide election victory on July 5, 2024 in London, England.  Leon Neal | Getty Images News | Getty Images LONDON - Outgoing UK Prime Minister Rishi Sunak on Friday said he will step down as the leader of the Conservative Party after the opposition Labour Party secured a landslide victory in Thursday’s nationwide election. Sunak announced he will step down as the leader of the Conservative Party as soon as the formal arrangements for selecting his successor are in place. He then had an audience with King Charles III where he tendered his resignation as prime minister. “This is a difficult day, at the end of a number of difficult days,” Sunak said during a final address outside of Downing Street. “But I leave this job honored to have been your prime minister.” WATCH NOW VIDEO 00:59 UK PM Rishi Sunak concedes defeat Speaking to crowds on 10 Downing Street, Sunak said