King Charles ’emphasising a more public monarchy’ says expert

The annual cost of the Royal Family to the British public has remained the same for the last financial year at just £1.29 per person, with Express.co.uk readers overwhelmingly agreeing in a new poll that this is good value for money.

The Firm’s official expenditure rose to £107million in the last financial year but the taxpayer-funded Sovereign Grant remained at £86.3million, meaning the royals had to dip into reserve funds to cover £20.7million shortfall, according to the Sovereign Grant Report.

The Sovereign Grant is based on a proportion of the profits of the Crown Estate and funds the expenses of King Charles and working members of the Firm as well as property upkeep and staffing costs. Last year some £51.8million of the grant funded official royal duties while £34.5million was spent on the renovation of Buckingham Palace.

Keeper of the Privy Purse, Sir Michael Stevens, said that that year had been an “exceptional period of transition for the Royal Household” with Queen Elizabeth II’s Platinum Jubilee, her state funeral and preparations for the King’s Coronation adding to the costs.

He added that the return of in-person events and travel post-pandemic had increased expenditure and that the Firm is “not immune” to the impact of inflationary pressures. He confirmed that the Sovereign Grant figure will remain the same for the current financial year.

READ MORE: King tells palace staff to turn heating down as Royal Family expenses hit £107m

In a poll that ran from 10.30am on Tuesday, July 4, to 8am on Friday, July 7, Express.co.uk asked readers: “Is the Royal Family value for money?”

Overall, 2,607 readers responded with a staggering 82 percent (2,127 people) answering “yes” it is compared with 17 percent (449 people) who said “no”. A further one percent (31 people) said they did not know.

Dozens of comments were left below the accompanying article as readers shared their thoughts on the cost of the monarchy.

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Most readers praised the work of the Royal Family compared to the cost, with username JoJo22 commenting: “Of course they are value for money! The amount of revenue they bring into the UK is massive and…they remain a vital part of the UK and of the world.”

Similarly, username Annabel02 said: “It might seem a lot, what taxpayers pay out a year for the Royal Family, but the amount of money that the monarchy generates each year for the economy is so much more than this.”

Username justmy2cents agreed, writing: “Absolutely! Alone in the UK tourism generates more income from visits to various Royal places as well as their purchase of memorabilia. On top of that comes the amount tourism generates in other areas; as well as the indirect benefit we get from the popularity the Royal Family generates on international visits.”

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Members of the Royal Family conducted 2,700 engagements across the UK and abroad last year, representing the Firm at numerous events, occasions and conducting charity work. Brand Finance estimates that the monarchy contributes £2.5billion to the British economy each year.

Yet some readers thought that the monarchy was not good value. Username SpocksBeard argued: “I’ve never seen the point of them. The historic buildings attract tourists and bring in money. The people themselves? From my point of view they are pointless rich people we have to pay for.”

While username Hildegardes wrote: “They are sitting on billions of pounds worth of assets, that rightly belong in the hands of the public; the return on investment is but a pittance; an absolute disgrace, given the growing number of poor in Britain.”

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