With the recent increase in the revenues from the Crown Estate meaning that Her Majesty received an increase in her official expenditure this year, we thought we’d work out just how much each person pays in taxes for the upkeep of the Monarchy for this year alone.
Traditionally, it is held that each person in the UK pays around 62p per year for the Monarchy, but this is a calculation that would have been done at the time of the Civil List and grants-in-aid still being in existence. We wanted to produce an accurate figure of just how much we do pay now that the Sovereign Grant act is firmly in motion, so we did a little research. Here is what we have found.
- According to the 2011 census, there are currently roughly 62,641,000 living in the United Kingdom.
- The cost of the Monarchy for this year will be £36.1 million.
So, for this year, the Monarchy would cost every person in the UK around 58 pence (exact figure being 57.6 pence).
That’s 58 pence, per person per year. Remaining astonishingly good value.
To put it into perspective for our overseas readers, here’s what it would be in your respective currencies:
- 0.89¢ US Dollars
- 0.68¢ Euros
- $1.06 New Zealand Dollars
- 0.91¢ Canadian Dollars