The closure of castles and palaces amid the pandemic and a shortfall in funding to repair Buckingham Palace has left the Royal Family with a $44 million shortfall.
The Royal Cost
For 2019-2020 the “core” Sovereign Grant of £49.4m pays for the Royal Family’s official travel, property maintenance and the operating costs, putting the price of the Queen and the Royal Family at $0.94 per person in the U.K, according to the filed accounts. The Sovereign Grant is funded by the profits from the Crown Estate, a Royal portfolio of property and land that includes some of London’s best known streets. The Crown Estate pays its profit to the Treasury for the benefit of all U.K. taxpayers. The Royal Family then receives a percentage of the income from the Crown Estate back from the British government as the Sovereign Grant.
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