The Daily Parker

Politics, Weather, Photography, and the Dog

Her Majesty's Recession

Apparently the Duchy of Lancaster, which is essentially the property of the British Royal Family, has suffered a bit of a decline:

The Duchy of Lancaster - a portfolio of land, property and assets held in trust for the Sovereign - saw a drop of £75m to £322m in the 2008-9 financial year.

But the income the Monarchy received from the Duchy, used to fund her public and private activities, increased by 5.4% from £12.6m to £13.3m.

During the last financial year, the total cost to the taxpayer of keeping the monarchy increased by £1.5m to £41.5m.

The Beeb notes, however:

[T]he Duchy of Lancaster is a body created under Charter, it is completely self-financing and does not rely on any taxpayers' money.

Foreign Policy adds:

This is further bad news for her Highness, who has had her many, many requests for increases to the royal budget rejected by parliament in the last year. The monarchy's annual expenses currently run at £41.5 million, excluding an estimated £50 million in security costs. Nonetheless, Palace officials continue to engage in talks with the Treasury to elicit more funding for the Crown for, amongst others, planned household refurbishment and the 2012 diamond jubilee celebrations.

The Queen recently dipped into her now-dwindling private funds to pay for a few royal expenses, including Prince Harry's latest trip to New York.

The most surprising thing to me, though, is that £90 million doesn't seem like a lot of money, given the income to the country the Royals may generate merely by existing. How much money from tourists comes in because of the Royals? Has anyone studied this? And how much do most countries spend on heads of state, to what benefit?

Comments are closed