This is how much the royal family costs the British taxpayer
The British pay a lot for their flagship property. Last year, the royal family swallowed about £87.5 million in public funds.
Queen Elizabeth II celebrated her platinum birthday. For 70 years now, the Queen has represented Great Britain and the Commonwealth of Nations as Head of State, and as of June 12, the Queen has the second longest reigning monarch in world history. However, most of their tasks are now formalities or are of a purely symbolic nature.
The role of the British monarchy is determined by the agreement and its function as a representative of the United Kingdom is financed by British taxpayers.
Buckingham Palace is expensive to renovate
Such as additionalThe chart shows, the royal family’s expenses have increased dramatically in recent years. The latest data shows that the royal family will cost 87.5 million pounds in 2021.
The system of financing the monarchy is based on government grants called “sovereign grants”. Its value is determined by the amount of money that the real estate portfolio brought to the British Crown.
The renovations to Buckingham Palace have been one of the biggest expense items in recent years. All the electrical, heating and plumbing systems in the royal residence date from the 1950s and are in dire need of replacement. As part of the 10-year renovation plan, wiring and plumbing will be replaced, asbestos removed from the building and the mansion will be accessible to visitors.
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