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Sean Coughlan, a royal correspondent, reported that public funding for the Royal Household has seen a significant increase in real terms since 2012. The Sovereign Grant, which supports the monarchy through taxpayer money, was initially set at £31m annually in 2012 but has now soared to £132m. This marks an approximately threefold rise in value once inflation is considered. The surge in funding is primarily attributed to maintenance and construction work undertaken at Buckingham Palace.
The Sovereign Grant plays a crucial role in financing the official activities of the monarchy. Lord Turnbull, a former Cabinet Secretary, criticized the method used to calculate the grant, dubbing it as “complete and utter nonsense.” The grant’s allocation for property maintenance and staff salaries has been substantial, with additional funds directed towards travel, hospitality, and housekeeping expenses. The House of Commons Library analysis reveals a consistent increase in the Sovereign Grant over the years, factoring inflation into each year’s value.
Buckingham Palace has defended the heightened current figures, emphasizing a comprehensive 10-year initiative amounting to £369m aimed at modernizing various palace facilities. The grant spike is attributed to funding allocated for Buckingham Palace renovation projects rather than typical operational expenses. Future projections indicate a potential decrease in taxpayer contributions post-2027. While critiques like Norman Baker scrutinize the grant’s calculation method, supporters argue that the monarchy’s financial backing is essential for its effective functioning.
Despite the ongoing funding debates, royal experts stress the economic benefits and goodwill generated by the monarchy. The tourism boost, business partnerships, and diplomatic advantages linked to royal engagements underscore its perceived value. However, calls for increased transparency and accountability in expenditure remain pertinent, reflecting public expectations for responsible financial management. While the monarchy enjoys reasonable popularity, questions about its fiscal sustainability persist, especially among younger age groups who may question the allocation of public resources to royal undertakings
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