The Growing Cost Of The Royal Family To UK Taxpayers

The latest accounts show that the monarchy cost £87.5 million in 2021.

In a nutshell, the system of funding the monarchy works when the UK government makes a payment called the Sovereign Grant to the Royal Household every year.

Its value is determined by how much money the Crown Estate real estate portfolio has brought in.

One major factor causing the rising costs in recent years are the expenses required to fund renovation work at Buckingham Palace.

The royal residence's electrical, heating and plumbing systems all date from the 1950s and are in urgent need of replacement. As part of 10-year renovation plan, wiring and pipework will be replaced while asbestos will be removed from the building. New elevators will also be installed to assist disabled visitors. source