How much does the royal family cost? A breakdown of £86.3m in key figures

The statement covers a year of transition for the Royals - covering the Platinum Jubilee, Queen Elizabeth's death and the coronation of King Charles.

The Royal Household published its annual financial statement, the Sovereign Grant Report, for the financial year 2022-23 on Thursday.

The Sovereign Grant is the funding provided to support the official duties of the King and maintain the Occupied Royal Palaces.

This year’s statement covers a period of significant transition for the Royal Household – including covering the Platinum Jubilee and state funeral of Queen Elizabeth II, the accession of King Charles, the lead up to Their Majesties’ Coronation, and the coming together of staff from two households.

Here are some of the key figures from the royal accounts for 2022-2023.

– £86.3m – The total taxpayer-funded Sovereign Grant, made up of £51.8m for the “core” funding and an extra £34.5m for the reservicing of Buckingham Palace.

– £107.5m – Official net expenditure by the monarchy, a rise of £5.1m or 5% from £102.4m in 2021/2022.

– £1.6m – Amount spent from the Sovereign Grant on the late Queen’s funeral.

– £700,000 – Amount spent from the Sovereign Grant on the Platinum Jubilee (including £300,000 from 2022-23)

– 517 – Full-time equivalent staff paid for from the Sovereign Grant, including fixed term contracts, up from 491.

– £27.1m – The wage bill for staff, up £3.4m, or 14%, from £23.7m the year before.

– £2.4m – Cost of housekeeping and hospitality for the royal household, up £1.1m from £1.3m.

– £3.9m – Cost of official royal travel, a drop of £0.6m or about 13%, from £4.5m the previous year.

– £1.02m – Cost of 179 helicopter journeys made by members of the royal family.

– £186,571 – Cost of charter flights for the King and Queen to Rwanda for the Commonwealth Heads of Government Meeting.

– £146,219 – Charter flights for the King and Queen’s first official state visit, to Germany in March 2023.

– £25,687 – Cost of a residence-to-residence charter flight for the King, when he flew from Aberdeen to Northolt in October 2022.

– £1.29 – Cost per person in the UK of funding the total Sovereign Grant

– 77p – Cost per person of the “core” part of the Sovereign Grant for official duties, not including funds for the long-term Buckingham Palace works.

– 183,207 – Items of correspondence received by Buckingham Palace in 2022-23 including 67,693 before the Queen’s death, and 115,244 afterwards, making it the busiest year on record for incoming post.

– 9.7% – Proportion of staff from ethnic minority backgrounds working for Buckingham Palace, compared with 9.7% in 2021-22 and 8.5% in 2020-21. The target was 10% and is now 14%.

– 16.3% – Proportion of staff from ethnic minority backgrounds working for Kensington Palace. (13.6% last year)

– More than 2,700 – Official engagements by members of the royal family in the UK and overseas, compared with 2,300 last year.

– £5.9 million – Prince of Wales’s private income from the Duchy of Cornwall landed estate – for about six months he spent as a new heir to the throne in 2022-23.

– £6.9 million – Amount of money kept by the landed estate for day-to-day running, instead of going to William as salary.

– £12.8 million – Salary the King received as the Prince of Wales from the Duchy.

– £24 million – The total annual Duchy of Cornwall profit for 2022-23, which would ordinarily have been William’s full salary.

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