The Royal Family is set to receive a substantial increase in funding from the UK Treasury this year, with the Sovereign Grant rising by £45million to reach £132million in April.
The significant boost in public funding has drawn sharp criticism amid the Government’s broader financial challenges.
CEO of the anti-monarchy organisation, Republic, Graham Smith described the increase as “scandalous” and argued that rather than increasing, the funding “should be going down”.
Smith said: “This is public money, all of this money comes from the Government, at a time when the Government is not able to properly fund schools, hospitals, and police.”
The Royal Family is set to receive a substantial increase in funding from the UK Treasury this year, with the Sovereign Grant rising by £45 million to reach £132 million in April
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The Sovereign Grant represents the annual payment made to the monarchy by the UK’s Treasury, drawn directly from public funds.
The palace has indicated that a significant portion of the increased funding will go towards the ongoing £369million renovations of Buckingham Palace, scheduled for completion in 2027.
The exact allocation for the renovation works has not been specified by palace officials.
This funding increase follows recent scrutiny of royal finances through a November documentary, “The King, The Prince and Their Secret Millions.”
The palace has indicated that a significant portion of the increased funding will go towards the ongoing £369 million renovations of Buckingham Palace, scheduled for completion in 2027
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The Dispatches programme revealed that the Duchies of Lancaster and Cornwall charge rent to the NHS, armed forces and charities.
Republic has announced plans to campaign for the abolition of the Duchies in 2025.
“I think that the Dispatches documentary really hit a nerve. I think people were really quite angry about it,” Smith told Town & Country.
The Duchy of Lancaster provided King Charles with £27.4million in the last financial year, while the Duchy of Cornwall paid Prince William £23.6million.
Both Duchies have defended their private status, with the Duchy of Lancaster emphasising it is “self-financing and does not receive any public funds”.
The Duchy of Cornwall, spanning nearly 130,000 acres in southwest England, described itself as “a private estate with a commercial imperative”.
Prince William, who became Duke of Cornwall in September 2022, has committed to making the estate net zero by 2032.
The Duchy of Cornwall’s revenue supports Prince William’s public, private and charitable activities.
