The British Monarchy costs the taxpayer £37.4 million ($67.9 million USD) per year, Buckingham Palace announced today at the publication of its annual report of Royal finances.
The Royal Public Finances annual report shows that the Queen and the institution of Monarchy cost every taxpayer just over 62 pence in the last financial year.
The annual report includes the total cost of the Grants-in-aid which covers the cost of the Royal Palaces and Royal Transport, the Civil List which covers the cost of The Queen’s official household and Parliamentary annuities which were paid to the Duke of Edinburgh to meet his official expenses
| Year to 31st March 2006 |
2006 |
2005 |
||
|
£m |
£m |
|||
|
The Queen's Civil List |
11.2 |
10.6 |
||
|
Paliamentary Annuities |
0.4 |
0.4 |
||
|
Grants-in-aid |
20.3 |
19.4 |
||
|
Expenditure met by: |
5.5 |
5.5 |
||
| Government Departments | ||||
| Crown Estates | ||||
| Total |
37.4 |
35.9 |
Royal expenditure for 2005-2006 totals £37.4 million which is 4.2% higher than in the previous year, this increase is partly due to increased security. However, over the past five years it has decreased in real terms by 2.5%.
State Visits, the administration of honours as well as the maintenance of the Home Park at Windsor Castle and the maintenance of the Palace of Holyroodhouse in Scotland amounted to £5.5 million which was paid directly by Government Departments as well as the Crown Estate.
In a in a Press Release by the Palace, the Keeper of the Privy Purse, said:
“The annual cost per person in the Country, in funding the Head of State, amounts to 62 pence. This is the annual cost, not the daily, weekly or monthly cost. We are pleased that the total cost of the Monarchy is lower in real terms than it was in 2001.
“The reduction in the amount of Head of State expenditure reflects the continuous attention the Royal Household pays to obtaining the best value for money in all areas of expenditure.”