Updated: Prince Harry and Meghan Markle will lose HRH titles and will repay £2.4million of public cash spent on their Frogmore Cottage home

The Duke and Duchess of Sussex are no longer to use their HRH titles and will repay £2.4million of taxpayer's money spent on renovating their Frogmore Cottage home, Buckingham Palace announced tonight, as a Megxit deal was sealed.

The Queen said in a statement: 'Following many months of conversations and more recent discussions, I am pleased that together we have found a constructive and supportive way forward for my grandson and his family. Harry, Meghan and Archie will always be much loved members of my family.

'I recognise the challenges they have experienced as a result of intense scrutiny over the last two years and support their wish for a more independent life.

'I want to thank them for all their dedicated work across this country, the Commonwealth and beyond, and am particularly proud of how Meghan has so quickly become one of the family.

'It is my whole family's hope that today's agreement allows them to start building a happy and peaceful new life.'
Buckingham Palace added in a separate statement that under the new arrangement agreed with Harry and Meghan they are 'required to step back from royal duties' and will no longer receive public funds for royal duties, adding: 'This new model will take effect in the Spring of 2020.'

But the official statements do leave several key questions unanswered over Harry and Meghan’s future.

While it says the couple will no longer receive public cash, it is unclear whether Harry will still receive the estimated £2.3million a year he gets from his father Prince Charles's Duchy of Cornwall coffers.

There is also no mention of security costs, with the price of protecting the couple and son Archie in Canada round-the-clock expected to cost up to £7.6million.

And the future of the couple’s new website venture is also unclear. It is not known whether they will hang on to the ‘Sussex Royal’ name if they are no longer officially part of royal life.

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