Britain’s republicans won’t give up. In spite of trying to use the coronation of Charles III as an opportunity to push their campaign to abolish the monarchy, support for the institution has remained stubbornly high. It is our elected politicians – on both sides of the political divide – who seem to have lost support rather than the new King.
Not to be put off, however, the campaign group Republic has this week published its latest Royal Finances Report, claiming that the royal family is really costing us £510 million a year, nearly five times as much as the sovereign grant.
How does it arrive at such a figure? It claims the costs of the monarchy break down as follows:
Sovereign grant – £ 108.9 million
Income foregone from royal palaces and other buildings – £ 96.3 million
Income from Duchy of Cornwall which could go to taxpayer – £ 65.3 million
Income from Duchy of Lancaster which could go to taxpayer – £ 33.8
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