Campaign group Republic has today written to the government, calling for a full review of royal funding and for the Sovereign Grant to be scrapped. The call comes as David Cameron and George Osborne conduct the first five-year review of the grant since it was introduced in 2011.
Figures show that the Sovereign Grant has increased by 38% over the past five years - from £31m to £42.8m in 2016/17. The grant is just part of the estimated £334m annual cost of the monarchy.
The grant is pegged to 15% of profits of the Crown Estate, a nationally owned property portfolio. The review can reduce or increase that percentage - but the grant itself cannot go down, even if the review reduced it to 0% of Crown Estate profits.
Graham Smith, Republic's CEO, said today:
"The grant has to be scrapped. It is madness to peg any public spending to property prices and not to allow reductions in spending. This has to stop."
"NHS jobs are under threat, public services are being cut, public pay being squeezed. Yet royal funding continues to go up and up, with no prospect of it going down."
"I'll be writing to the prime minister to call for the grant to be scrapped, for a full review of royal funding."
"As an interim measure the grant should be set at 0% of Crown Estate profits - yet a change in the law is required to reduce the money paid below £42.8m"
"We need a full review of royal funding, including the opening up of the books and proper annual budgeting."
"I think if the public knew the details of how the royals spend our money they would be appalled."
"This is particularly pressing when we link this issue to royal lobbying and secrecy - to what extent are the royals applying pressure for better financial terms?"
NOTES
The letter to the Prime Minister can be seen at www.republic.org.uk/sovereigngrantletter
Republic's demands include:
The review should fix the percentage at 0% as an interim measure, to guard against continued increases in the grant.
The Sovereign Grant should be scrapped at the earliest opportunity.
Funding for the monarchy should be brought into line with normal budgeting practice, with an annual budget being allocated by the Treasury and subjected to the same levels of scrutiny as any other public spending.
A full independent review of royal funding and spending should be carried out and reported to parliament.
Royal funding should be linked to lobbying transparency, including disclosure of royal pressure to secure better funding.
For more information about royal funding visit www.republic.org.uk/royalfinances.
Figures show that the Sovereign Grant has increased by 38% over the past five years - from £31m to £42.8m in 2016/17. The grant is just part of the estimated £334m annual cost of the monarchy.
The grant is pegged to 15% of profits of the Crown Estate, a nationally owned property portfolio. The review can reduce or increase that percentage - but the grant itself cannot go down, even if the review reduced it to 0% of Crown Estate profits.
Graham Smith, Republic's CEO, said today:
"The grant has to be scrapped. It is madness to peg any public spending to property prices and not to allow reductions in spending. This has to stop."
"NHS jobs are under threat, public services are being cut, public pay being squeezed. Yet royal funding continues to go up and up, with no prospect of it going down."
"I'll be writing to the prime minister to call for the grant to be scrapped, for a full review of royal funding."
"As an interim measure the grant should be set at 0% of Crown Estate profits - yet a change in the law is required to reduce the money paid below £42.8m"
"We need a full review of royal funding, including the opening up of the books and proper annual budgeting."
"I think if the public knew the details of how the royals spend our money they would be appalled."
"This is particularly pressing when we link this issue to royal lobbying and secrecy - to what extent are the royals applying pressure for better financial terms?"
NOTES
The letter to the Prime Minister can be seen at www.republic.org.uk/sovereigngrantletter
Republic's demands include:
The review should fix the percentage at 0% as an interim measure, to guard against continued increases in the grant.
The Sovereign Grant should be scrapped at the earliest opportunity.
Funding for the monarchy should be brought into line with normal budgeting practice, with an annual budget being allocated by the Treasury and subjected to the same levels of scrutiny as any other public spending.
A full independent review of royal funding and spending should be carried out and reported to parliament.
Royal funding should be linked to lobbying transparency, including disclosure of royal pressure to secure better funding.
For more information about royal funding visit www.republic.org.uk/royalfinances.
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