How Much Does the Royal Family Cost the UK?

Royal finances are thrust into the spotlight each year when the British royal household publishes accounts to show how the money they receive from the UK Treasury has been spent. In the last financial year they received £86.3 million. However, campaigners have today claimed in a new report that the true annual cost of the royals to the British public is several times that.

Anti-monarchy group Republic has said that the royal family costs Britain an estimated £510 million ($680 million) per year. As well as the millions received from the Treasury, they argue that security costs, money received by the sovereign and heir from the Duchies of Lancaster and Cornwall, and costs to local councils for hosting royal engagements should all be factored in. The report also criticizes the BBC's reporting on royal finances, which it describes as "a lack of willingness to look more critically at the issue and challenge the palace line."

"The half a billion pound cost of the royals represents a scandalous abuse of public money. It is the result of royal corruption and secrecy, a family that believes it can spend public money with impunity," Republic's Chief Executive Graham Smith said in a statement today. "Republic is demanding the royal budget be slashed to below £10m, that only Charles receive any public funding, that he is given a salary pegged to that of the prime minister and that MPs hold a inquiry into this appalling waste of money."

Many of the costs in Republic's report are estimates. In some cases, true figures are not available—such as for the cost of security which the royal family and the Metropolitan Police both refuse to discuss. In other cases, such as with the Duchies of Lancaster and Cornwall, it is not a foregone conclusion how their management and revenue would be rearranged if the system did not remain the same, so Republic has estimated an outcome based on one scenario.

Buckingham Palace did not comment on the report today. During the latest briefing on royal finances, a royal aide emphasized, "Continuous improvement is an important part of the Royal Household's approach in all areas, ensuring it continues to deliver high quality support to the Sovereign and members of The Royal Family in their service to the Nation, Realms and Commonwealth. This is underpinned, as ever, by a strong emphasis on value for money."

Republic has timed their announcement ahead of the UK's Chancellor Rachel Reeves announcing the new Labour government's Budget in October. She has already warned the BBC that "difficult decisions" will have to be made over taxation and public spending.

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