With the recent interview of the Duke and Duchess of Sussex, some of royal family’s disparagers called for to get rid of the British monarchy, one of the oldest in the world and as a matter of fact, the existing taxpayers in the United Kingdom (UK) are paying more money than ever to feed royals.
The past few years were not ‘all so good’ for British royals, whether its Harry’s and Meghan’s step down from their royal duties, Prince Andrew’s relationship, bombshell revelations from Meghan, or the debate against the monarchy.
The trend has not stopped and the Buckingham Palace is the center of headlines once again.
As per system, UK government makes a payment to the Royal Household called ‘the Sovereign Grant’ every year.
As per sources, the monarch technically owns the crown estate, a collection of land and assets that includes Ascot racecourse, a big chunk of central London, and half of the foreshore in England, Wales, and Northern Ireland.
The crown estate’s profits go to the government each year with some of the money given back to the royal household.
According to sources, the grants’ value is determined by how much money the Crown Estate real estate portfolio brought in.
The figure has risen in recent years with a total of £69.4 million in 2020 with an add up to £82.4 million to cover renovations work at Buckingham Palace.
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Of the total, the royals cover their travel costs, staff payments, and property maintenance along with the renovation of Buckingham Palace.
The Palace’s electrical, heating and plumbing systems have been outdated and need replacement and a 10-year plan has been suggested for restoration.
It seems like the British Royals don’t come cheap and the fat expenses have triggered a debate in UK to abolish the monarchy.