King Charles III has reportedly begun to swing his axe to implement his major plan of sliming down the monarchy, with the eviction of Prince Harry and Meghan Markle from Frogmore Cottage.

The 74-year-old monarch, set to be crowned alongside Queen Consort Camilla on May 6, has decided to end subsidised rents for members of the royal family over the next five years, according to a new report.

The expectation for royals to fund their own homes apparently also extends to working royals, including Prince William, Kate Middleton, Princess Anne and prince Edward.

There are speculations that the next target is Prince Andrew, who’s reportedly being asked to move out of his current residence the Royal Lodge. The new monarch has reportedly offered the Duke of York the keys to Frogmore Cottage.

A media outlet quoted a source as saying that the King “is not some sort of housing association for distant relatives.”

Vice-Admiral Sir Tony Johnstone-Burt, Master of the Household, and Sir Michael Stevens, Keeper of the Privy Purse, will be put in charge of a period of transition after the coronation, sources close to Buckingham Palace told the Evening Standard. 

On the other hands, the Queen Consort will reportedly ensure the royal household will adhere to the “Clarence House way” of operating. One senior figure was quoted as saying: “It is not about cuts, it is about getting the best value for money from those on the payroll. Sometimes less is more.”

Prince William and Harry’s father is reportedly also considering to reduce the number of royals who are financially dependent on the crown.

There are also reports that Charles III is keen for the funds from the sovereign grant to be spent “more effectively” and wants to attract more talent to his workforce by offering competitive salaries and pensions.