The cost of the Royal Family to taxpayers is a hotly debated topic, with anti-monarchy campaigners claiming that the true cost is nearly six times more than the official figures suggest. According to the Republic group, the real cost is £510m a year, including factors such as security, which is not accounted for in the annual Sovereign Grant of £86m.
Republic’s chief executive, Graham Smith, criticized the government for spending half a billion pounds on the royals while considering cuts to essential services like the winter fuel allowance. The group argues that the current funding for the royals is opaque and secretive, calling it a “scandalous abuse of public money.”
In addition to security costs, Republic’s total includes “lost income” from commercial revenue that could come from royal residences, as well as funds that should be paid into the public purse by the duchies of Lancaster and Cornwall. The group also estimates the cost of royal visits by councils and government departments.
Despite these claims, Buckingham Palace has declined to comment on the report. The latest accounts for the Sovereign Grant show that state funding for the Royal Household will remain at £86.3m for the next year and rise to £132m in the following year.
While there are economic benefits from the royals, such as boosting tourism and supporting overseas trade, public opinion on royal funding is divided. A recent YouGov survey found that 55% of respondents viewed the monarchy as good value for money, while 30% saw it as poor value. Support for the monarchy was strongest among older people, while opposition was strongest among the young.
As the debate over royal funding continues, the question of how much the monarchy truly costs taxpayers remains a contentious issue.
