sovereign

Within minutes of congratulating the Republican candidate, France's Emmanuel Macron said he had agreed with German Chancellor Olaf Scholz to work towards a "more united, stronger, more sovereign Europe in this new context".

“I have just spoken with the Chancellor @OlafScholz. We will work towards a more united, stronger, more sovereign Europe in this new context. By cooperating with the United States of America and defending our interests and our values,” Macron wrote on X.

The level of profit made by the Crown Estate is used as a benchmark to calculate the funding given by the government to the Royal Family in the form of the Sovereign Grant.

The taxpayer-funded Sovereign Grant will rise to £132m next year, after profits from the Crown Estate increased to £1.1 billion.

"This is another sign that the chancellor overestimated the market's desire to absorb more sovereign debt issuance from the UK," she said.