Camilla to become Queen unless law changes claims Harrold
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Since 2012, the old Civil List has been replaced by the Sovereign Grant. The single consolidated Sovereign Grant payment also replaced the previous system of Grants-in-Aid for royal travel, communications and information, and the maintenance of the royal palaces.
The Sovereign Grant helps to pay for the expenses of the Queen when she carries out her official duties, as well as those of her senior working royals.
There are only a select number of working royals now, including people like Prince William and Princess Anne.
But the Sovereign Grant helps contribute to the costs associated with the offices of some working royals, including things like payroll for staff and travel expenses.
Funding for the Sovereign Grant is worked out as a percentage of the profits raised from the Crown Estate.
Like other areas of public spending, the Sovereign Grant is subject to scrutiny.
But in recent years, the Sovereign Grant has significantly increased, in part due to the renovations at Buckingham Palace.
Statista analysis of Government figures shows how the amount the Royal Family receives from the Sovereign Grant has almost doubled since 2017.
The chart shows the value of the Sovereign grant in 2012/13 stood at £31.5million (€37milllion).
In 2016/17, the Sovereign Grant had increased significantly to £41million (€48.2million).
But by 2018/19, the Sovereign Grant amount had shot up to £82million (€96.2million), before dropping slightly for 2019/20 to £77.8 million (€91.3million).
In the three years since the 2016/17 amount of £41million (€48.2million), the Sovereign Grant has increased by approximately £36.8million (€43.1million) for 2019/20 – meaning the amount of the Sovereign Grant almost doubled.
In the year ending March 31, 2020, Statista analysis found that net expenditure of the Sovereign Grant came to £69.4million.
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But more than half of the Sovereign Grant was paid on property maintenance.
A significant chunk of this amount (£16.4million) was specifically spent on the renovation of Buckingham Palace.
Last September, Buckingham Palace released a statement on the 2019/2020 Sovereign Grant report.
The Palace said: “The Royal Household today published its annual financial statement, the Sovereign Grant Report, for the financial year 2019 to 20.
“The Sovereign Grant is the funding provided to support the official duties of The Queen and maintain the Occupied Royal Palaces.
“It also includes a dedicated amount to fund the ten-year Reservicing of Buckingham Palace, a major overhaul of essential building services including electrical wiring, pipework, boilers and generators.”
Although the Sovereign Grant contributes to a large proportion of royal spending, it is not the only financial channel open to the Royal Family.
The Queen has access to the Privy Purse, with money that stems from her extensive portfolio as holder of the Duchy of Lancaster.
And Prince Charles and his heirs receive funding from the Duchy of Cornwall, which Charles inherited as heir to the throne.
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