Prepare for a royal budget boost! The grant supporting the monarchy is set to surge by over 53% next year, reaching £132m – an impressive £45m increase.
Recent royal accounts unveiled profits exceeding £1bn from the crown estate, leading to a rise in the taxpayer-funded sovereign grant. This fund, covering official royal duties, will jump from £86.3m in 2024-25 to £132m in 2025-26.
Republic, an anti-monarchy group advocating for a British republic, estimates the total public cost of the royal family surpasses £500m annually.
The additional funds are earmarked for the extensive £369m renovation of Buckingham Palace. Graham Smith of Republic urges tough decisions starting with reigning in royal expenses amidst challenging times.
Questioning expenditures on royals while contemplating cuts elsewhere like winter fuel allowances raises concerns about priorities and fiscal responsibility.
Republic’s analysis points out that a significant portion of funds goes towards security (£150m) and “lost revenue” (£96m) due to underutilized royal residences occupied by the family instead of being available for state use.
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