The jaw-dropping amount of British taxpayer money the Royal Family receives every year

The British Royal Family is beloved in countries around the world but it takes a substantial sum of money to keep it afloat. Ultimately it is the British taxpayer that must foot the bill.

This week the annual budget received from the government was released, revealing that the British Royal Household receives $118.5 million (£86.3m) in taxpayer money.

That sum is known as the ‘Sovereign Grant’ and it is broadly used to maintain the Royal Family, as well as ensuring the upkeep of royal palaces and fund official duties. The latest annual figure is split between two parts: $71.1 million (£51.8m) in a core grant, along with $47.4 million (£34.5m) to pay for the ongoing refurbishment of Buckingham Palace.

However the funding is not entirely one-way. In return, the proceeds from the Crown Estate – all of the lands and properties owned by the monarch – are then handed back to the government.

The funding provided to the Royal Household allows them to maintain the prominent position in British and global society, a key facet of Britain’s tourism industry. Royals, including King Charles, also regularly appearance at events around the country and host receptions that have real diplomatic power for the UK. The annual Sovereign Grant Report explains: “1,900 public engagements in the UK and overseas, while more than 93,000 guests attended 828 events at Official Royal Palaces.”

The Royal Family will continue to live an extremely lavish lifestyle but there are some cutbacks being made. The most notable of which was the decision to retire the Royal Family’s train in a cost-saving measure.

The existence of a ‘Royal Train’ dates back to 1842, when Queen Victoria first boarded a specially-built carriage for a trip from Slough to London’s Paddington Station. The current edition is much-changed and now includes luxurious sleeping quarters and an office.

It’s not cheap, though. King Charles’ trip to Staffordshire earlier this year cost a total of £44,822. The storage of the train at a secure facility are also extremely costly and the decision has been made to retire the royal transportation in 2027.

The jaw-dropping amount of British taxpayer money the Royal Family receives every year

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