The Royal Family's finances have been revealed in the latest annual accounts, showing the monarchy will receive a massive £132 million Sovereign Grant in 2026-27. This represents a significant increase driven by record profits from Crown Estate wind farm deals worth £1.1 billion.
The current year's Sovereign Grant remained steady at £86.3 million, the same as 2023-24. However, the monarchy's official spending fell by four per cent to £85.2 million, down £3.9 million from the previous year's £89.1 million.
Property costs drop significantly
Property maintenance expenses decreased substantially to £41.2 million, compared with £47 million the year before. This reduction helped offset increases in other areas of royal spending.
Official travel costs rose to £4.7 million, an increase of £500,000 from the previous year's £4.2 million. The Royal Family made 141 helicopter journeys costing £475,000 in total, averaging less than £17,000 per trip.
King's overseas visits most expensive
The most costly single journey was the King and Queen's official visit to Samoa, with charter and scheduled flights totalling £400,500. Their trip to Belfast in March, including charter flights and helicopters around Northern Ireland, cost £80,100.
Housekeeping and hospitality expenses increased to £3.2 million, up £600,000 from £2.6 million the previous year. The Royal Household now employs 539 full-time equivalent staff, compared with 523 last year.
Staff costs and correspondence surge
The wage bill for royal staff rose to £29.9 million, an increase of £2 million from £27.9 million. The Royal Household received 123,000 pieces of correspondence, including 41,000 well-wishes for the King and Princess of Wales during their health challenges.
Windsor Castle's East Terrace Garden received a £605,000 makeover featuring new pathways, biodiverse flower beds and two orchards for public enjoyment. The project created improved access and enhanced the visitor experience.
Reduced engagements but record visitors
Royal Family members carried out 1,900 official engagements in the UK and overseas, down from 2,300 the previous year. Despite fewer engagements, 93,000 guests attended 828 events at official Royal Palaces.
Diversity targets showed progress with 12.1 per cent of Buckingham Palace staff from ethnic minority backgrounds, up from 11.4 per cent. The palace aims to reach 14 per cent by December 2025.
Palace income reaches new heights
Supplementary income to the Sovereign Grant reached £21.5 million, rising £1.7 million or nearly nine per cent from £19.8 million. Record visitor numbers to Buckingham Palace's Summer Opening, featuring the newly opened East Wing, drove this increase.
The Prince of Wales received £22.9 million in annual private income from the Duchy of Cornwall estate, down £700,000 from the previous year's £23.6 million. This income funds his official duties and private expenses as heir to the throne.
(PA/London) Note: This article has been edited with the help of Artificial Intelligence.
