Living Off The State

As the UK faces what are probably the most challenging economic conditions in its history, the British royal family continues to enjoy the good life, amassing considerable wealth through generations of preferential treatment - necessary, it is claimed, to maintain the honour and dignity of the institution. Taxpayers fund the most expensive monarchy in Europe - at an estimated cost of over 175million a year - plus the imposed costs to the economy of royal public holidays that can cost the economy literally billions of pounds. Despite the Jubilee flags and the cheering crowds, can the Windsor family maintain its privileged position in the face of unfolding economic crisis?

But how, precisely, is it financed? What are the 'Duchies' of Cornwall and Lancaster whose 'surpluses' provide over 31million in combined annual incomes for the Queen and the Prince of Wales - and who really owns them? What are the 'Grants-in-aid? What will be the impact of the new Sovereign Grant Act which replaces the present Civil List system with the Sovereign Grant from 2013? Why has 'charity' become such a key promotional tool for the monarchy? Is it now time to regulate the commercial use of the royal 'brand'?

Poorly regulated by our unwritten constitution, members of the royal family have no legally defined roles. Despite potential conflicts of interests that may exist, they are exempt from the rules which apply to others in public life. Royal finance is, for many, a mystery, frequently misunderstood by the very taxpayers who fund this grandiose institution. Is it now time for a simpler, slimmed-down monarchy? And how much would a republic cost?
Here at last are the answers - in the critical guide to UK royal finance: LIVING OFF THE STATE.