In the past fiscal year, the royal family’s spending rose by £14.9 million, up 17 per cent on the previous year. Official documents published on Thursday 30 June show that the royal family’s expenses totaled £102.4 million, of which around £86.6 million came from British taxpayers.
Expenses include £4.5 million in travel and £63.9 million in property maintenance.
READ MORE: Kate and William’s Controversial Anniversary Tour Was the Most Expensive Royal Tour of the Year – Cost
Full-time wages totaled £23.7 million and the cost of housekeeping and hospitality increased by 55 per cent.
A senior royal source told the Press Association that the company is considering being “innovative” in reducing consumption, given the environmental and cost of living.
“It goes without saying that, in terms of environmental qualities, we’re not just looking at consumption, but we’re also looking at — in terms of the cost of living — one of the big increases to come and happening now is utilities.”
The Republic’s President, Graham Smith, of the anti-monarchy campaign said: “As always, while the rest of us face a cost of living crisis and continued pressure on public services, the royals are walking away with hundreds of millions of pounds tax money .
“We have to put the monarchy on a good budgetary basis, just like any other public body. We need to reduce that budget to less than £10 million, funding only what is necessary for the functions of the head of state.”
So what do YOU think? Is the British Monarchy Too Expensive? Vote in our poll and leave your thoughts in the comment section below.
Should the taxpayer-funded royal budget be cut?
UK taxpayers will pay an additional £27.3million over the next two years to cover a decline in Crown Estate profits and close a financing gap.
This is because the country is facing a cost of living crisis, with the average UK household income falling 1.3 percent from the previous year.
Public sector workers have taken industrial action to protest wage increases amid current inflation.
Taxpayers contribute to the Sovereign Grant, which supports the Company’s official duties and maintains royal residences.
Is the royal family value for money?
After the royal family’s increased spending in difficult financial times, a royal expert defended the firm.
Speaking on BBC Breakfast on Thursday 30 June, Richard Fitzwilliams said the Royal Family is crucial from a “ceremonial point of view”, adding that there is “nothing else to compare it to”.
He explained: “There is nothing else to compare it to except the other royal families around the world, I think there are 27 in total. If you look at our profile, you have no equal.”
He attributed some of the rising costs to an increase in travel by the royal family after the pandemic, saying: “You essentially have to pay for your first family and of course the security costs are not disclosed but the facts are the monarchy, from a ceremonial point of view, you don’t get anything comparable.”
So what do YOU think? Is the royal family value for money? vwrite down in our poll and leave your thoughts in the comment section below.