Royals really cost £510m, anti-monarchists say

Republic attacks the current funding for the royals as opaque and secretive and a “scandalous abuse of public money”.

A head of state should have running costs of £5m-£10m a year, it says, and the King should have an annual salary of £189,000, with increases pegged to that of the prime minister.

Buckingham Palace has declined to respond.

But the latest accounts for the Sovereign Grant, published in July, show state funding for the Royal Household will remain at £86.3m for 2024-25 and rise to £132m in 2025-26.

The level of funding is calculated against the profits of the Crown Estate, with next year’s rise reflecting increased income from offshore wind farms.

“This is now the third year for which the Sovereign Grant has not increased by one single penny, despite the supplementary costs incurred by the change of reign and despite the double-digit inflationary pressures that have impacted on goods and services for all organisations in that same period,” Sir Michael said earlier this year.

“What has remained constant is the determination to deliver value for money in ensuring the Royal Family are able to serve our communities to the best of their abilities, even in difficult personal circumstances.”