Meghan Markle and Prince Harry ‘now financially independent’ from Prince Charles

Meghan Markle and Prince Harry are now financially independent and are not taking money from Prince Charles, it has been reported.

Fresh from signing a huge deal with video streaming service Netflix, the Duke and Duchess of Sussex confirmed on Monday (September 7) they have now paid back £2.4 million to taxpayers for renovating Frogmore Cottage, as part of an agreed deal after they stepped down as members of the Royal Family this year.

Meghan and Harry officially stepped back from their roles as senior royals on March 31, 2020, moving first to Canada and later Los Angeles when the US was placed on lockdown due to coronavirus.

As part of their agreement with the Queen to step away from the rest of the Royal Family, the couple had agreed to become financially independent and not rely on public funds.

"Harry and Meghan have made clear that they do not want to be reliant on public funds in their new lives," Harry's grandmother, Queen Elizabeth, said in a statement at the time. "It has therefore been agreed that there will be a period of transition in which the Sussexes will spend time in Canada and the UK."

And now, after the announcement of their bumper Netflix deal, a source close to the couple is reported to have told ABC News that Harry and Meghan are no longer receiving financial support from The Prince of Wales, whether privately or from Prince Charles' private estate, the Duchy of Cornwall, which is used to fund "the public, charitable and private activities of the Prince of Wales and his family."

They are also said to no longer be accepting any contributions from the Sovereign Grant, the British government's annual taxpayer-funded payment to the monarchy to cover official expenses, the news outlet adds.

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In May this year it was revealed that Harry and wife Meghan Markle had reached an agreement to pay £18,000 a month back into the Sovereign Grant.

At the rate of £216,000 a year, it was expected to take them 11 years to repay the British taxpayer. But on Monday it was announced the entire cost of the renovations has now been paid back in full.

The news comes hot on the heels of the Sussex's announcement that they have founded an as-yet unnamed production company and have plans for a wide variety of content including documentaries, docu-series, feature films, scripted shows and children's programmes.

The unprecedented multi-year deal with the streaming giant could net Harry and Meghan up to £75 million, according to reports.

Making the announcement, Meghan and Harry said in a statement: "Our focus will be on creating content that informs but also gives hope.

"As new parents, making inspirational family programming is also important to us."

They added that Netflix's "unprecedented reach will help us share impactful content that unlocks action".

Netflix's chief content officer and co-chief executive Ted Sarandos said: "We're incredibly proud they have chosen Netflix as their creative home and are excited about telling stories with them that can help build resilience and increase understanding for audiences everywhere."

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