King Charles III, on a budget, will need to keep costs down
The monarchy and the British government, which provides significant financial support for the institution, have long faced: Both have worked to maintain the pomp and circumstance of the institution while avoiding looking profligate.
However, it can still appear an expensive endeavor for taxpayers. Last year, the family cost the government at least £102 million, according to the palace’s annual financial report. Royal critics say the bill is higher, because of the costs of police protection for the family. Britain’s monarchy is more costly in absolute terms than some other smaller royal dynasties. The Dutch king’s budget totaled 40 million euros, or about $40 million, in 2015, the last year for which it gives figures. The Swedish state picks up an even smaller bill of around 76.1 million Swedish kronor, or about $7.3 million, this year.
In the last financial year, the annual grant came to £86.3 million. The Crown Estate, valued at £16.6 billion based on its last annual report, and the royal family’s vast collection of palaces, jewels and art are owned by the family in name only. The now-King Charles III can’t sell the 775-room Buckingham Palace or the crown jewels and their more than 23,000 gemstones.
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