The idea of royalty is magic itself. The crowns. The power. The money. But is it all that it is built up to be? What if you could decide? How would the world be different today if the royal families had never existed?
On average, the British Royal Family cost the taxpayer £43 million a year, with them being estimated at a net worth of £383 million as a collective. Individually, they each represent a substantial sum of money due to allowances and inheritances; for example, Queen Elizabeth is worth £322 million alone. However, how is this different from other royals in other monarchies around the world?
There have been several republican-style debates about the usefulness of the royals and why the taxpayers should fund their lavish lifestyles.
One answer of many is tourism; the money that the British Royal Family brings in is extortionate as they are unique, and no other country can quite compete with their pomp and pageantry. If this is true, how are the other royals still afloat, in less tourist-driven nations?
The answer can be put down to the way their finances are handled. In countries such as Spain, Sweden, Denmark and Norway only the monarch and his/her direct heirs receive government handouts whereas the reigning king or queen gives the minor royals their allowances.
This results in less cost for the taxpayer; for example, per year the Swedish royals cost an average of £11.8 million, with the Spanish royals only costing £7 million. When these figures are compared to those of the British Royal Family’s staggering figure, the question of resourcefulness is begged. What is being done with the money? How are other monarchies surviving on so much less?
Whilst the attraction to Britain and its royals is more defined than it is for other European families, one can’t help feeling that the expenses could be cut down slightly to aid other departments, such as education and healthcare.
Yet, their benefits can be seen as they boost the tourist industry to an average of £535 million per year, as well as lend their voices to voiceless and promote the support of controversial causes.
There is clearly a reason as to why the British royals are so much more recognisable to the broader world in comparison to other European royals. Whether it is because there is more significant funding or greater admiration for who they are and what they represent. Despite this, other monarchies have different policies and are thriving, so, the argument is clear – royal vs republican. You decide.