In the last fiscal year, the Royal Family’s expenditure increased by £14.9million – a 17 percent increase from the previous year. Official records published on Thursday, June 30, show the Royal Family’s spending totalled £102.4million, with some £86.6million of this coming from the British taxpayer.
Expenditure includes £4.5million on travel and £63.9million on property maintenance.
READ MORE: Kate and William’s controversial Jubilee trip was most expensive royal tour of year – cost
Full-time staff wages totalled £23.7million and the cost of housekeeping and hospitality increased by 55 percent.
A senior royal source told the Press Association that the Firm was considering how to be “innovative” in reducing consumption given the environmental and cost of living factors.
“It goes without saying, in terms of the environmental credentials, that not only are we looking at consumption, but also we have an eye on – in terms of the cost of living – one of the big increases that is coming and is happening now is utilities.”
Anti-monarchy campaign group Republic’s chief executive Graham Smith said: “As always, while the rest of us face a cost-of-living crisis and continued squeezes on public services, the royals walk off with hundreds of millions of pounds of taxpayers’ money.
“We need to put the monarchy on a proper budgetary footing, just like any other public body. We need to slash that budget down to below £10million, and only fund what’s required 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 decreased?
UK taxpayers will pay an additional £27.3million over the next two years to cover a drop in profit from the Crown estate and make up a funding gap.
This comes as the nation faces a cost of living crisis, with the average UK household income being 1.3 percent lower than the previous year.
Public-sector workers have taken industrial action in protest over pay increases below the current rate of inflation.
Taxpayers contribute to the Sovereign Grant, which supports official duties of the Firm and maintain royal residences.
Is the Royal Family value for money?
Following the Royal Family’s increased expenditure in tough financial times, a royal expert defended the Firm.
Richard Fitzwilliams spoke on BBC Breakfast on Thursday, June 30, and said that the Royal Family is crucial from a “ceremonial point of view”, adding that there’s “nothing else to compare it to”.
He explained: “There isn’t anything else to compare it to, other than the other Royal Families throughout the world, I think there are 27 in all. If you look at the profile of ours, you haven’t got any equal.”
He attributed some of the rising costs to an increase in travel by the Royal Family following the pandemic, and said: “You’ve got to essentially pay for your first family and of course, the security costs aren’t revealed but the facts are the monarchy, from the ceremonial point of view, you don’t get anything remotely similar.”
So what do YOU think? Is the Royal Family value for money? Vote in our poll and leave your thoughts in the comment section below.