Monarchy costs up by £200k in 2011/12

Monarchy costs up by £200k in 2011/12

Justin Burns

Monarchy costs up by £200k in 2011/12

The cost of funding the monarchy rose by £200,000 to £32.3million for 2011/12 - but a reduction of 26 per cent over three years.

Figures were revealed in a royal family expenditure report, which said £6.1million was forked out on air and rail travel, while the upkeep of royal residences was £12.2million.

The cost of running Windsor Castle was £3.5million, the same as 2010/11, while the Royal Mews cost £300,000, up from £100,000, and Home and Great Parks £1million - down £100,000.

For the financial period from April 1, 2011, to March 31, 2012 - £1.2million was spent on maintenance projects at Windsor Castle.

They included £400,000 on renewal of lead roofing at Augusta Tower and £300,000 on external repairs of the North Side State Rooms.

Sir Alan Reid, Keeper of the Privy Purse, said the decrease is mainly due to a continuation of a pay freeze, increased income generation and deferral of property maintenance expenditure.

He said: "We are pleased to report that we have achieved this reduction a year ahead of the public expenditure target and managed to transfer £3.3million to the Sovereign Grant Reserve."

Funding of royal finances are in a transitional phase as the old Civil List system is replaced with a new Sovereign Grant model.

The Queen will receive 15 per cent of profits from the £6.7billion Crown Estate, in place of money from the Civil List, which begins in 2013/14.

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