LONDON (AP) — In a stunning declaration, Britain’s Prince Harry and his wife, Meghan, said they are planning “to step back” as senior members of the royal family and “work to become financially independent.”

A statement issued by the couple Wednesday evening also said they intend to “balance” their time between the U.K. and North America.

Before marrying Harry last year, the Duchess of Sussex was the American actress known as Meghan Markle.