LONDON — King Charles III’s monarchy is set to receive a pay rise of more than 45 million pounds ($60 million), with a 53% jump in its official annual income, accounts show, as Britain grapples with a spiraling cost of living crisis.

LONDON — King Charles III’s monarchy is set to receive a pay rise of more than 45 million pounds ($60 million), with a 53% jump in its official annual income, accounts show, as Britain grapples with a spiraling cost of living crisis.