Post by Admin on Jul 13, 2019 9:25:09 GMT -4
The soaring cost of the British Royal Family: Deep Dive
Middle Gate at Buckingham Palace
The cost of being a member of the Royal Family is quite high, but, to the public purse the cost is slightly even higher. With special deals from the U.K government — the royal family has in place regulations that keep their incomes coming practically forever.
Official reports seen by The Daily News show that costs have increased £19.6 million ($25 million), or 44%, on the previous year. Currently before the increases, it was running about £67m a year.
For centuries, the royal family has had quite the sweetheart deal with the government for income purposes. Since 1760 (during the reign of King George III) the royal family has agreed to fork over all of their estate income in return for a fixed annual payment (of about 15% of their income). The deal gets renegotiated every so often — most recently in 2011.
In 2019, Queen Elizabeth II received a whopping sovereign grant of £49.3 million ($63 million), plus a special additional grant of £32.9 million ($42 million).
Frogmore House
Another massive chunk of expenditures for the royal family: the 5-bedroom Frogmore Cottage gifted to Meghan and Harry from the Queen herself. The quaint idyllic estate sits on Windsor Estate, however, there’s one quirk about it.
The interior at one point was designed to sit like dorm style rooms rather than a home fit for a family. According to financial records, this is where the royal couple ponied up £2.4 million of taxpayer monies. Personal decor and other renovations of the home are privately being done by the couple.
If the Queen or even Prince Charles wants to update something of their own; add to their homes, or anything in between they both have private bank funds for that. The Duchy of Cornwall and The Duchy of Lancaster both are funds used to privately fund much of the families expenses and even the expenses of their children and families.
Middle Gate at Buckingham Palace
The cost of being a member of the Royal Family is quite high, but, to the public purse the cost is slightly even higher. With special deals from the U.K government — the royal family has in place regulations that keep their incomes coming practically forever.
Official reports seen by The Daily News show that costs have increased £19.6 million ($25 million), or 44%, on the previous year. Currently before the increases, it was running about £67m a year.
For centuries, the royal family has had quite the sweetheart deal with the government for income purposes. Since 1760 (during the reign of King George III) the royal family has agreed to fork over all of their estate income in return for a fixed annual payment (of about 15% of their income). The deal gets renegotiated every so often — most recently in 2011.
In 2019, Queen Elizabeth II received a whopping sovereign grant of £49.3 million ($63 million), plus a special additional grant of £32.9 million ($42 million).
Frogmore House
Another massive chunk of expenditures for the royal family: the 5-bedroom Frogmore Cottage gifted to Meghan and Harry from the Queen herself. The quaint idyllic estate sits on Windsor Estate, however, there’s one quirk about it.
The interior at one point was designed to sit like dorm style rooms rather than a home fit for a family. According to financial records, this is where the royal couple ponied up £2.4 million of taxpayer monies. Personal decor and other renovations of the home are privately being done by the couple.
If the Queen or even Prince Charles wants to update something of their own; add to their homes, or anything in between they both have private bank funds for that. The Duchy of Cornwall and The Duchy of Lancaster both are funds used to privately fund much of the families expenses and even the expenses of their children and families.
