Royal Wealth and Finances 1: Ending 2022

[branchg]

I am sure adjustments are made for those that are not in direct line to become monarch to assure some amount of financial security...

Queen Mary assembled parures of jewels when Albert, Henry and George married for their new wives. That's how these jewels came into the possession of her present descendants today. The Queen has distributed very little of her jewels, most of which will likely pass to the new Sovereign after her death.

 

[Skippyboo]

It makes sense for the queen to keep her jewels and lend them out instead of giving them to a specific person. The sovereign to sovereign transfer isn't subject to tax so the collection can be kept together. Margaret's children had to sell most of her stuff to pay the tax bill.

 

[Lumutqueen]

The Queen gets a pay rise to £38m while George Osborne announces £11.5bn in cuts | Royal | News | Daily Express

Waiting for the backlash, what people won't understand is that what The Queen gets paid is entirely dependent on the profits of the Crown Estate. She can't really help it if her staff are doing their job.

 

[christythedreamer]

I can't believe Sweden is one of the poorest families! Lol their jewel collection is just jaw-dropping

 

[Elenath]

Backlash has arrived... She could also just keep the profits of the crown estates and decline a pay from the government. But somehow I don't think that would make people happier though...

 

[Spheno]

"Under a new funding deal agreed by George Osborne in 2010, the Queen's income is directly linked to the money the Crown Estate makes each year.
The Civil List and grants for travel, PR and maintenance on royal palaces were replaced with a new single payment.
Under the new rules the Queen receives 15 per cent of the gains..."

http://www.dailymail.co.uk/news/article-2349433/Queen-5-pay-rise-Monarchs-income-hit-38-million-year.html​

 

[NGalitzine]

The media reports this story as if the money paid to HM was salary and not a departmental budget to cover operational expenses, including the salaries of staff.
Someday I would like to see a story on what the costs of maintaining the PM, his official residences, entertainment, security, and his travel are. O hand they could also toss in the costs of maintaining official residences for several members of the cabinet.

 

[vkrish]

People are the same everywhere...

All these years I used to think its only my fellow Indians who rush to praise or criticise in mob-frenzy, basing on some sensational headline, without caring to know the facts. But now I know no one is an exception to this.. Everytime there is some news regarding royal finances media starts hyping with the words "pay-rise".."taxpayer-funded" etc and people start flooding sites with all sorts of swearings..
I wonder if atleast 1% of the British population knows that there is no Civil List/payments/handouts/benefits and the money given to Royal Household is a small fixed fraction of the profit generated from their properties "leased" to government. And as if this is not enough another crowd from other side of the "pool" start provoking them for a "revolution"

 

[Elenath]

This is what I meant with my post a little higher up. Even though you said it much better. As far as I can tell, the BRF bring in a lot more money than they take out and I don't think the British public would be happy if complete ownership of the Crown Estates would be given back to the BRF and they would decline a "payment" from the government. That would cost the british taxpayer a lot of money.

 

[Lumutqueen]

Interesting tweet, not sure why The Queen doesn't spend it if this is the case;

@SkyNewsRoyal: #royal Buck Palace can bank cash left at end of financial yr - but if it exceeds £16m, Soverign Grant faces being slashed - So spend it?

 

[Iluvbertie]

Given the huge backlog in maintenance on the royal palaces I doubt that there would be much left over and if there is it would probably be kept to cover larger maintenance costs that the left over couldn't fund.

 

[cepe]

The "problem" I think is that in the past they have "made do and mend". What is needed now is major works - that is probably a 5-10 year rollong plan of capital works which has to be implemented around the royal calendar. Maintenance in the past was done across the summer when HMQ was in Scotland, and this is now the time that the public are admitted.

They also need a planned maintenance schedule that they stick to. Having worked with the civil service, I have to say that this is the budget that usually gets cut first.

I can anticipate that BP will close to the public in the summer for a couple of years so that the works can progress.

 

[MichelleQ2]

I can't imagine BP closing. The loss of tourism dollars. I think more likely would be the court moving to Windsor for a few months. HM and DoE are already there Fri -Mon ea week. it is already an alternative location for state dinners. The court is at Sandringham from late dec through mid February. Going from Sandringham direct to Windsor through Ascot would give 6 months for any major renovations.

 

[cepe]

I think you will have to imagine it, because the parts that the tourists visit in the summer are the parts that need renovating. A couple of years can be managed and then everyone will come back because of the new improved BP. Logistically - its the only way.

 

[Skippyboo]

Wouldn't it make more sense to fix what wrong with BP in one shot instead of closing for 2 months in August and September for 5 years? It maybe that there is so much that needs to fixed that there isn't a enough money for it too be done in one shot. I think there is a similar problem with the Palace of Westminster .

Either way the royal collection will lose money from either the summer opening in BP not happening or Windsor's state rooms closed for palace functions

 

[cepe]

They'll lose even more money if someone gets injured.

I dont know all the ins and outs but I would think there are real limitations on moving out of BP entirely for a time. A rolling programme is probably the only approach. The logistics will be a nightmare because of the various functions managed from the building.

 

[An Ard Ri]

A royal bargain

A royal bargain - Telegraph

 

[Warren]

53p a year
The Queen gets a £2million pay rise | Royal | News | Daily Express

£38m a year for our glorious Queen? What an absolute bargain.

The Queen's income from the taxpayer will rise to £38million because of a deal linking the Royal Household's Sovereign Grant from the Government to 15 per cent of the profits of the Crown Estate property portfolio.

The Crown Estate, which is nominally owned by the monarch but has sent all its profits to the Treasury since 1760, said yesterday it made a record £252.6million in the year to March - an increase of five per cent. It is the second year running that the Queen has enjoyed a big increase in taxpayer funding thanks to the Crown Estate.

Under a deal introduced by Chancellor George Osborne in 2012, the payout started at £31million and rose to £36million in April this year. She was previously paid by taxpayers through the Civil List, an allowance set by Parliament, and other Government grants.

Using £2.3million of additional cash held in a reserve fund, she spent £33.3million of taxpayers' money on official expenditure in her Diamond Jubilee year - £900,000 more than the previous year. The accounts show the Queen gave her staff a small pay rise last year "to improve morale in Diamond Jubilee year" after two years of a wage freeze. She expects to give her staff a similar rise of about one per cent this year but senior aides are still negotiating with union representatives. The accounts show the Queen gave her staff a small pay rise last year "to improve morale in Diamond Jubilee year" after two years of a wage freeze. She expects to give her staff a similar rise of about one per cent this year but senior aides are still negotiating with union representatives. In spite of a busy year of travelling for the Jubilee, the cost of royal travel fell by £500,000 to £4.5million.

Royal aides plan to use the latest windfalls from the Crown Estate to help ease a £40million backlog of repair work to the Queen's homes. Profits were up thanks to overseas interest in its central London properties and investment in wind farms. Its £8.1billion property portfolio includes the UK seabed and Regent Street in London's West End.

 

[NGalitzine]

Just once I would like to see a newspaper explain that none of this is considered a salary for the monarch and that it is in fact a budget amount for the official expenses of the monarchy......just like any other government department has a budget for each year except that in the case of the monarchy the money does not come from direct taxation.

 

[Lumutqueen]

Just once I would like to see a newspaper explain that none of this is considered a salary for the monarch and that it is in fact a budget amount for the official expenses of the monarchy

That would be accurate reporting, and newspapers don't do that over her.

 

[cepe]

Just once I would like to see a newspaper explain that none of this is considered a salary for the monarch and that it is in fact a budget amount for the official expenses of the monarchy......just like any other government department has a budget for each year except that in the case of the monarchy the money does not come from direct taxation.

But government departments are not getting increases - that's the problem. Like it or loathe it, we are a welfare state and it is being cut back and cut back again; the public sector are not getting pay rises and on it goes.

There are some negative comments across the media about HMQ - and that hasn't happened in quite a while.

And what has really got me riled today is how little the press have covered PoWs costs when his costs from the public purse have gone down by 48% and his charities have generated £139m.

Really biased reporting.

 

[Lumutqueen]

But government departments are not getting increases - that's the problem. Like it or loathe it, we are a welfare state and it is being cut back and cut back again; the public sector are not getting pay rises and on it goes.

There are some negative comments across the media about HMQ - and that hasn't happened in quite a while.

And what has really got me riled today is how little the press have covered PoWs costs when his costs from the public purse have gone down by 48% and his charities have generated £139m.

Really biased reporting.

Daily Mail and the Telegraph have Charles related articles, they're not 'glowing' only skimmed them but they are there. Nothing positive is every going to be said when it involves money and the royals. The headlines will always be The Queen gets a pay rise, Charles spends this etc!

 

[BritishRoyalist]

Just once I would like to see a newspaper explain that none of this is considered a salary for the monarch and that it is in fact a budget amount for the official expenses of the monarchy......just like any other government department has a budget for each year except that in the case of the monarchy the money does not come from direct taxation.

I Agree. Some Republicans on anti-monarchy pages (which i don't like or comment on as I don't want to waste my time with them but I still read for a good laughs) Don't seem to understand that or don't get it at all. Some think It mean the Queen is getting a salary raise for just her own personal good and use which is not true. Maybe if the paper explained things much mire accurately. They don't seem to ever list the cost of maintaing the PM and his travel, entertainment, etc.

 

[Iluvbertie]

I would prefer to see the government establish a 'Department of the Head of State' to handle the money matters of the monarch and then it would be clear that The Queen doesn't get paid a salary to do her job.

 

[ShannyD]

I would prefer to see the government establish a 'Department of the Head of State' to handle the money matters of the monarch and then it would be clear that The Queen doesn't get paid a salary to do her job.

I somewhat understands that the Queen doesn't get paid by the government. Instead the income from the Crown Estate goes to pay for the expenses of being head of state. Does this include travel cost, palace maintenance (of Buck, Clarence, Kensington, Windsor), household costs (like the staff), and entertainment costs (such as state visits, garden parties, and other events). So the Queen doesn't get any money from the civil list/sovereign grant as a salary for being the head of state?

 

[Dman]

Prince Charles paid £1m a year to support Prince William and Harry in official duties:
Prince Charles paid £1m a year to support Prince William and Harry in official duties | Royal | News | Daily Express

 

[NGalitzine]

...So the Queen doesn't get any money from the civil list/sovereign grant as a salary for being the head of state?

Correct, there is no salary for being head of state. The old Civil List and now the 15% from the Crown Estate are meant to cover the official expenses of the head of state but not the personal expenses and all expenses must be accounted for.
The Queens private income is from the Duchy of Lancaster which she may use as she sees fit.
.

 

[Iluvbertie]

That is correct - but unfortunately many people don't understand this and think the money she gets is hers for her own amusement when it is to cover the costs of being Head of State. If Britain became a republic they would still have these costs for their Head of State and the excuse that the palaces would be open more often doesn't hold up when you realise that a President would still need a place to live.
.

 

[cepe]

Duchy of Lancaster/Cornwall



If Britain became a republic - would the capital/income/assets of the 2 Duchies revert to the State or be granted to the "retiring" royal family?

I apprecaite that there may not be a definitive answer, so informed views would be helpful.

 

[Iluvbertie]

I would assume that the Duchy of Lancaster estate would become the private income of the new President, in lieu of a salary and the Duchy of Cornwall the income of the Vice-President - or something along those lines. Of course it could revert to the state. The private property of the royals - e.g. Balmoral and Sandringham would remain the property of the royals.