Anti-Monarchists Claim True Cost of Royal Family is £510 Million Annually

Anti-monarchy campaigners have asserted that the real cost of the Royal Family to UK taxpayers is £510 million a year, significantly surpassing the £86 million provided by the Sovereign Grant. The Sovereign Grant covers expenses such as staffing and maintenance of royal properties, but excludes security costs, which the Republic group estimates could be around £150 million based on media reports.

Graham Smith, chief executive of Republic, criticized the spending, questioning how the government can consider cuts to public benefits while allocating such substantial funds to the monarchy. The group’s figure includes “lost income,” such as the potential £96 million in commercial revenue from royal residences and £99 million from the duchies of Lancaster and Cornwall.

Republic labels the current royal funding structure as opaque and a misuse of public funds, proposing that a head of state’s operational costs should be between £5 million and £10 million annually. They argue that the King should earn an annual salary of £189,000, adjusted in line with the Prime Minister’s salary.

Buckingham Palace has not commented on these claims. According to the latest Sovereign Grant accounts, funding for the Royal Household will remain at £86.3 million for 2024-25, increasing to £132 million in 2025-26, due to profits from the Crown Estate.

While 55% of those surveyed by YouGov believe the monarchy is good value for money, support varies significantly across age groups, with older individuals generally favoring the institution more than younger generations.