What is the reason for the royal family cost per the year 2022?
What arrangements have the British authorities made for the royal family cost per the year 2022?
What are the consequences for the taxpayers of the high expenses of the British royal family?
The published figures indicate the increase in The royal family cost per the year 2022; These expenses bring a high cost to the taxpayers of this country. A financial report shows that Elizabeth II and the British royal family spent 102.4 million pounds ($124 million) last year. Royal accounts show that British royal government spending rose 17 percent last year to 102.4 million pounds ($124 million). Therefore, the British royal family faces severe criticism due to the economic crisis.
The exorbitant costs of royal celebrations
Accounts for the Sovereign Grant, which covers the official expenses of Elizabeth II and her family, were published in June 2022 and show that the British royal family cost taxpayers £102.4 million during 2021-2022. Funds are used by Elizabeth II and other members of the royal family to pay for royal events such as receptions and garden parties, and school visits; Last year, nearly two thousand three hundred ceremonies were held. Last year, the royal family spent £55m on speeding up work at Buckingham Palace during a significant event, a 41% increase.
The cost of the five-day celebrations on the 70th-anniversary royal family occasion reached USD 1.6 billion. During these celebrations, Queen Elizabeth was seen with her crown prince on the balcony of Buckingham Palace. The music festival was held in front of Buckingham Palace with the participation of great music stars, including the world-famous opera singer Andrea Bocelli. About 10,000 soldiers, dancers, puppeteers and artists participated in these celebrations, and the golden carriage, which is 260 years old, was exhibited during these celebrations. This golden carriage is traditionally used for weddings and royal ceremonies in the British royal family, which shows the high royal family cost per year in 2022 for the British.
The exorbitant costs of royal travel
Another obvious manifestation of the increase in the royal family cost in 2022 is the exorbitant expenses of royal trips. Travel spending in 2021-22 rose from £1.3m to £4.5m as restrictions eased after the Covid-19 pandemic. This involved 26 visits, each costing more than £15,000; For example, Elizabeth II’s trip by royal train to attend the G7 leaders’ reception in Cornwall cost about £32,000. The most expensive trip, costing around £227,000, was the British Royal Family’s tour of the Caribbean in March.
The exorbitant tourism costs of the royal family
The expenses of the official royal visits are also examples of the high royal family cost per year in 2022. In such a way, the royal family returned to foreign trips after the cancellation of the restrictions of the Covid-19. The most expensive official royal tour last year was Prince William and his wife Kate’s trip to the Caribbean in March, which cost around £226,000. The general budget supports Queen Elizabeth II’s official duties and other expenses such as official travel, royal staff and maintenance of occupied palaces.
The exorbitant costs of the royal family’s lawsuits
Also, reports indicate that Harry, grandson of Elizabeth II,’s an ongoing legal contract with the Home Office has already cost British taxpayers nearly $160,000. He challenged the UK Home Office’s decision to refuse police support to him and his family during his trips to the US, which led to a lengthy legal battle; This $160,000 lawsuit shows the high royal family cost per year in 2022.
The exorbitant costs of rebuilding Buckingham Palace
A large part of the royal family’s high spending – about £64 million – has been spent on estate maintenance and a 10-year plan to overhaul the pipes, wiring and electricity at Buckingham Palace. Therefore, the renovation of Buckingham Palace has taken a large part of the royal expenses.
Small business bankruptcy in the UK
About 500,000 small businesses in the UK could go bankrupt within weeks if a new wave of government aid is not delivered quickly, Martin McTague, chairman of the Federation of Small Businesses (FSB), warned. According to British media, the UK inflation rate in April reached 9%, the highest figure since 1982. Experts believe that the main reason for this is the high royal family cost per year in 2022.
Sources of income of the royal family
For 2021-2022, the royal family‘s total costs were more than offset by grants and an additional £9.9 million in income from other sources. The amount of the budget – £86.3m in 2021-2022 – is based on a proportion of the profits from a wide range of royal estates across the UK, which equates to spending £1.29 per person in the country. The British royal family also has other sources of income, including tourists paying to visit the royal palaces.
The profits from royal estates
Usually, 15% of royal property profits in the last two years are given to the Queen, which is spent on the high expenses of the British royal family, and the rest goes to the government. The royal estate’s revenue in the 2019-2020 financial year was £345 million. The agreement reached in 2017 shows that the Queen’s share increased to 25% for ten years. This money is supposed to be spent on the renovation of Buckingham Palace, which will cost 369 million pounds. The remaining amount is deposited into a reserve fund if this money is not entirely spent in a year.
Last year, 2.3 million pounds were withdrawn from this fund and finished on the renovation of Buckingham Palace. If the interest from royal estates decreases, the amount paid to the Queen will not differ from the previous year, and the Queen’s share of royal estate profits will effectively be more than 25%. This rule was part of the current system bill that the parliament approved in 2011.
At the same time, as the expenses of the royal family in the UK increased, the opponents of the monarchical system demanded to end this system and elect a president for the country. They showed their opposition by installing placards in different cities. In 9 cities (Aberdeen, Glasgow, Newcastle, Leeds, Liverpool, London, Bristol and Birmingham), placards were installed in opposition to Queen Elizabeth, asking the citizens of this country to let Queen Elizabeth be the last Queen of the UK, end the monarchy. Critics described the cost as excessive amid UK’s cost-of-living crisis.
