Anti-monarchy campaigners claim the Royal Family is costing taxpayers £510m a year, which they say is nearly six times more than the £86m of state funding from the annual Sovereign Grant.
The grant was established by an act of Parliament and is a sum paid annually by the Treasury to help fund the monarch’s official duties.
The Republic group says the higher total comes from a mix of factors like security that is not factored into the Sovereign Grant. They say security costs £150m every year. The group also argues that state funding for the grant is only a fraction of the real cost taxpayers are paying.
“How can we talk about cutting the winter fuel allowance while wasting half a billion pounds on the royals?” said Republic’s chief executive, Graham Smith, tapping into an ongoing row around the loss of the winter fuel benefit.
The Keeper of the Privy Purse Sir Michael Stevens, who looks over His Majesty’s finances has spoken before on the “determination to deliver value for money” in royal finances.
Many of the costs Republic report are estimates as most figures are not available like the cost of security. During a recent briefing on royal finances, a royal aide emphasized there is continuous improvement in the Royal Household’s approach in multiple areas. This not only impacts the nation but also the realms and the Commonwealth.
Buckingham Palace hasn’t commented on the matter.
