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British monarchy will receive around $118 million in government funding, annual report shows
- On Monday, the British Royal Household released its financial statement showing the Sovereign Grant remained at £86.3 million .
- The funding results from a 12% share of Crown Estate profits, established in 1760, based on a £442.6 million surplus, split into core and refurbishment grants.
- The Sovereign Grant report details over 1,900 engagements, 93,000 guests, £34.5 million for palace upgrades, and £4.7 million on travel expenditures.
- The Sovereign Grant remains at £86.3 million, with critics calling for its abolition and the Royal Train to be retired by 2027 over value-for-money concerns.
- Beyond the current figures, future Crown Estate income from offshore wind projects is expected to fund public services as the monarchy continues modernizing and opening its doors.
18 Articles
18 Articles
Royal Burden: How much does the British taxpayer pay for the upkeep of the monarchy?
The British royals have published the expenses for 2024, and it reveals how much the taxpayer has to shell out for the monarchy. According to accounts, King Charles and his family received £86.3 million (Rs 1,015 crore) last year in the form of the Sovereign Grant, of which a significant chunk was spent on travel and maintenance of the palaces
The British Royal House published its annual financial statement this Monday, revealing that the total annual sum coming from the government remains at £86.3 million (USD 118.5 million).
By Lauren Kent and Max Foster, CNN The British royal family released its annual financial statement Monday, revealing that the annual lump sum from the government remains at £86.3 million (US$118.5 million). This sum, called the sovereign grant, covers the upkeep of the royal palaces and official functions of the royal family and is funded by British taxpayers. In return, the monarch hands over all profits from the Crown Estate—which includes va…
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