A Rundown of Everything the British Royal Family Spent the Most Money On Last Year
The British royal family and their expenditure are topics often discussed by both the public and the press. People, whether they’re a fan of the monarchy or not, are curious about exactly what things royals spend their money on considering that part of this amount comes from British taxpayers. According to the financial report released by the Royal Household, the family received $104 million in funding from taxpayers in 2018.
This is where the money went.
Renovation Projects
According to Insider, the royal family spent $3.4 million for the renovation of Buckingham Palace which is a 10-year project. An additional $19.3 million is also listed as a fund kept for future phases of the project.
Much of the renovations are set to affect the palace’s east wing which would undergo replacements in its mechanical and electrical infrastructure. New elevators will also be installed in the area. The constructions led the queen and the palace staff to temporarily move out of the wing.
Another $3 million was spent to refurbish Frogmore Cottage which now serves as the home of the Duke and Duchess of Sussex Prince Harry and Meghan Markle. The 10-bedroom home used to be a staff headquarters and had to be renovated because of the poor condition of some of its units. The couple currently lives there with their newborn son, Archie.
Lastly, the royal family spent $1.7 million for Kensington Palace where other members of the clan, like Prince William and Kate Middleton’s family, live. Renovations at the palace include the resurfacing of the driveway and electrical and mechanical work in a cottage found on the grounds.
Workers’ Compensation
Another large expense that the royal family spends on is the salaries of the people they employ. In 2018, $29.5 million on paying the staff working at the five departments of the Royal Household. They are mainly based at St. James’s Palace and Buckingham Palace.
The five main departments of the household include the Private Secretary’s Office, Privy Purse and Treasurer’s Office, the Royal Collection Trust, the Lord Chamberlain’s Office and the Master of the Household’s Department.
Official Engagements
Meanwhile, the royal family also spends money on their official engagements. According to Insider, they on 3,200 official engagements last year. For overseas affairs, the royal family reportedly spent $1.2 million in 2018.
This includes the expenses incurred by Prince Harry and Markle during their royal tour of Fiji and Tonga which cost $103,000. Another $532,000 was spent for the Duke and Duchess of Cornwall Prince Charles and Camilla Parker Bowles’ 12-day Caribbean tour where they participated in various activities like taking a cocktail masterclass.
There’s also Prince William’s three-week secret work stint at MI5 and MI6. The prince worked with counter-terrorism teams from territories occupied by Israel, Palestine and Jordan. A total of $94,100 of taxpayer money was spent on the project.
More in Rich & Famous
-
WWE Signs $1.4 Billion Broadcasting Contract for SmackDown
In an explosive turn of events, World Wrestling Entertainment (WWE) has just unleashed some earth-shattering news for its legions of fans....
November 9, 2023 -
Navigating the Mortgage Maze as Interest Rates Take a Historic Leap
The U.S. housing market is nothing short of a dynamic entity. It evolves, reacts, and sometimes, just like the current real-estate...
November 3, 2023 -
Celebrity Couples Where the Woman Has a Higher Net Worth
In a world where gender roles and financial dynamics constantly shift, it’s not unusual to find celebrity couples where the woman...
October 27, 2023 -
Why the Gender Pay Gap Could Be Worsening
Picture this: Two college students, Alex and Charlie. Both are bright, have the same interests, and are ready to embrace the...
October 19, 2023 -
JC Penney’s Remarkable $1 Billion Revival Plan
In a remarkable turnaround, JC Penney unveiled a bold $1 billion revival plan, breathing new life into a brand that faced...
October 12, 2023 -
Shattering the American Dream: Mortgage Rates, Inflation & Cost of Living
You know that feeling when you are dreaming of something you have wanted for so long, only to watch it vanish...
October 6, 2023 -
Navigating the Workplace Dynamics With Generation Z
With the entry of Generation Z (born from 1997 onwards) into the workforce, a fresh breeze has swept through office spaces....
September 22, 2023 -
Why Businesses No Longer Offer Perks and Freebies
Have you noticed a shift in how companies are doling out customer perks and rewards? It’s not just your imagination—there’s a...
September 15, 2023 -
Paying Off Your Debt Through a Home Equity Loan | Is It a Good Idea?
Debt can be overwhelming, and finding ways to pay it off can be difficult. One solution that many homeowners consider is...
September 7, 2023
You must be logged in to post a comment Login