London, Yiannis Haniotakis

The annual cost of the royal family for British taxpayers remained stable at 86.3 million pounds For the fourth consecutive year, according to reports released by Buckingham’s Palace for the last financial year.

State funding to the royal family, known as Sovereign Grant, comes from public resources and supports the official activities of the monarchy, such as travel costs, staff, events and maintenance of royal homes.

It is calculated as a percentage of the net annual profits of Crown Estate – a public portfolio and revenue managed by an independent committee. From 2017 to 2024 this figure was 25%, but by 2024, following a proposal by the Royal Commissioners and with a personal request by King Charles, it was reduced to 12%. This change was made to refund a larger part of the increasing revenue – especially from offshore wind farms – to the public treasury. Thus, due to the large surplus of 442.6 million pounds for the financial year 2022–23, the new percentage continues to deliver the same grant of £ 86.3 million.

Of these, £ 51.8 million cover the basic functions of the palace, while £ 34.5 million were specifically destined for the renovation of the Buckingham Palace. Due to the scale of the project, the palace will receive an additional 91.6 million from public resources over the next two years to complete the 10 -year renovation project of a total of £ 369 million in time and within a budget.

At the same time expenditure for royal trips increased By £ 500,000 reaching £ 4.7 million, while the costs for the payroll increased by £ 2 million to £ 29.9 million.

Although the total amount remained unchanged, the palace notes that behind this number is a “royal institution that works harder, modernized faster and opening more than ever to the public”. During the period in question, King Charles and the Princess of Wales returned to their public duties, while the royal family made more than 1,900 official obligations in the United Kingdom and abroad. At the same time, 93,000 guests participated in 828 official events hosted in royal residences.

James Calmers, a Keeper of the Privy Purse, said the value of the monarchy is increasingly recognized: “Mild power is difficult to measure, but I believe its value is now clearly recognized, both inside and outside the United Kingdom.”

In the field of sustainability, the royal family completed 76 Basic maintenance projects. At the same time, the use of electric vehicles and sustainable aviation fuel was expanded, resulting in a 2%reduction in greenhouse gas emissions.

Finally, it was decided the definitive withdrawal of royal to March 2027after a review that has shown that it is no longer offering sufficient value for taxpayers’ money.

In addition to grant, the King receives income from the Duchy of Lancaster (a land estate), while the Prince of Wales receives net profits from the Duchy of Cornwall. The two ducats are controlled independently and subject to various laws of parliament. The Chancellor of the Lancaster Duchater holds a position in the cabinet. There have been occasional calls for the “delivery” of revenue from both ducats alongside the inheritance of the comb. Finally, the king draws private income from investment and inherited wealth, which is not made public. Critics have argued that the royal family’s finances are “covered with fog”.

There is no legal obligation for the king or the prince of Wales to pays tax. However, since 1993, will voluntarily pay tax over income from ducats and profits from personal investment, but not on grant. Under certain circumstances, capital gains and inheritance taxes are also paid.

Activists against monarchy they claim that the real cost of the royal family for taxpayers is 510 million pounds per year – Nearly six times more than £ 86 million.