Trouble in the kingdom

Royals devour 600 million euros a year

Opponents of the monarchy demand a much lower salary for King Charles

(Bild: AP ( via APA) Austria Presse Agentur/AP Photo/Alberto Pezzali)

Half a billion pounds - according to opponents of the monarchy, this is how much the royals cost the British state each year. This is according to a report by the Republic group, which is calling for the abolition of the monarchy and wants to cut King Charles' "salary".  

According to the report, the costs and lost income for King Charles III (75) and Co. amount to more than 500 million pounds (600 million euros). The palace declined to comment when asked by Deutsche Presse-Agentur and referred to official financial reports.

Savings to be made on the royals
Instead of cutting pensioners' heating allowances, as announced by Finance Minister Rachel Reeves (Labour), savings should first be made on the royals, said Republic leader Graham Smith in a statement. "If Reeves thinks tough decisions are needed in these difficult times, she needs to start with the royals."

The sum quoted by Republic is based in part on rough estimates and is difficult to understand independently. For example, the group assumes that the security costs for the royal family amount to 150 million pounds. There is no official figure for this.

Buckingham Palace would bring in 70 million in rental income
Estimates of alleged lost income are also included, such as potential rental income of 70 million pounds for Buckingham Palace and a good two million for Windsor Castle. Other estimates for the potential rental income are less than half as high - apart from the question of whether it would even be realistic to rent it out.

What is known, however, is the Royal Household's budget for the performance of official duties and the maintenance and operation of residences, known as the "Sovereign Grant".

Its amount is based on the income from the Crown Estates, a land and property portfolio that also includes the rights to the continental shelf around the British coast.

As income has risen sharply due to the expansion of offshore wind power, the royals can look forward to a handsome windfall. The "Sovereign Grant" has increased by 45 million to around 130 million pounds. According to the palace, a large part of this will go towards the urgently needed renovation of Buckingham Palace.

Private income in the millions
The royals' private income comes primarily from other land and property portfolios, known as the Duchy of Cornwall (for heir to the throne Prince William, 42) and the Duchy of Lancaster (for King Charles). According to official financial reports, £21 million before tax flowed into William's pocket last year, while his father made £27.4 million in profits.

If Republic is to be believed, the two duchies deprive the state of revenue amounting to almost 100 million pounds. The group denies that the income is private wealth. It is demanding that expenditure for the royal family should be reduced to between 5 and 10 million pounds. King Charles as head of state should be content with an annual salary of 189,000 pounds, around 230,000 euros, they say.