The British monarchy now costs taxpayers more than £500 million a year, according to a new report published by Republic, an anti-monarchy campaign group. The analysis, which examined official data and media reports on royal finances, claims that the true cost of maintaining the Royal Household has spiralled out of control.
Republic’s research reveals that while the Sovereign Grant, the official funding for the monarchy, amounts to £130 million, additional costs such as security, local council expenses, and the use of state buildings push the total figure to £510 million annually.
Graham Smith, a spokesperson for Republic, condemned the spending as a “scandalous abuse of public money,” accusing the royal family of operating with little oversight. “It is the result of royal corruption and secrecy, a family that believes it can spend public money with impunity,” Smith said.
Smith argued that at a time of financial hardship, with public services facing cuts, the monarchy’s lavish expenditure is indefensible. “How can we talk about cutting the winter fuel allowance while wasting half a billion pounds on the royals? How does the government defend this rhetoric of painful decisions when the royals cost us enough to pay for 18,000 NHS nurses?” he added.
The Sovereign Grant, which funds the monarchy’s official duties, is set to increase by an additional £45 million, a 53% rise from previous years. However, Republic claims this only accounts for part of the overall cost, with significant spending related to royal security and private expenses being excluded from official accounts.
One of the report’s key findings is that the Duchies of Lancaster and Cornwall, estates traditionally considered the private property of the royal family, are actually state-owned. According to Republic, this means the British public is effectively providing Prince William with an income of £23 million a year through his control of the Duchy of Cornwall.
“The royals are dishonest in claiming otherwise. The Duchies have been Crown property for hundreds of years, and the parliamentary and historic record makes it clear they are not private estates,” Smith argued.
In light of the report, Republic is calling for a drastic reduction in royal funding, with a proposed budget of no more than £10 million a year. The campaign group also suggests that only King Charles should receive public money, with his salary capped at the same level as the prime minister’s. Additionally, Republic is demanding a full parliamentary inquiry into what it describes as an “appalling waste of money.”
As the cost of living crisis deepens and public services are stretched, the report is likely to fuel further debate over the role of the monarchy in modern Britain and whether its funding is justified in these financially challenging times.
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