Prince Harry and Meghan Markle to Step Down as Senior Royals

Prince Harry and Meghan, the Duchess of Sussex, have announced that they are taking a step back as senior members of the royal family. In an official statement posted on the pair's Instagram page, the couple stated that they're working to "become financially independent."

Their official statement reads as follows: "After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as 'senior' members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen."

Adding: "It is with your encouragement, particularly over the last few years, that we feel prepared to make this adjustment. We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages. This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity."

The duo ended their joint statement by thanking their family and fans for their support. "We look forward to sharing the full details of this exciting next step in due course, as we continue to collaborate with Her Majesty The Queen, The Prince of Wales, The Duke of Cambridge and all relevant parties. Until then, please accept our deepest thanks for your continued support."

The announcement comes just one day after Prince Harry and Meghan visited the Canada House in London to thank the country for their hospitality after the couple and their 8-month-old son Archie took a trip there during their six-week break from royal duties.