Campaign group Republic has written to the Chancellor Rachel Reeves, calling on the government to slash the estimated half a billion pound cost of the royals.

The letter also called out MPs for their 'woeful' understanding of royal funding and questioned how so much public money could be wasted on one institution.

The full letter can be read here.

The letter, from Republic's CEO Graham Smith, said:

"I am concerned that while you are reportedly preparing to cut funding to public services and welfare, the huge cost of the monarchy will continue to rise."

The letter also said:

"If 'painful' decisions are required, as you have said, shouldn't those cuts start at the top? I am asking for the royal budget to be slashed, for the monarch to be put on an annual salary and for there to be an inquiry into royal costs."

Graham Smith told journalists today:

"The cost of the monarchy is out of control. It cannot be justified, it is the result of corruption and abuse of public funds by a family with a deep sense of entitlement."

"The whole system of funding the royals needs to be scrapped, including the Sovereign Grant, the duchies and local councils having to pay for royal visits."

"We want the monarchy gone for good, but in the meantime the head of state should be paid a salary just like everyone else, the household given an annual budget, just like any other institution. That budget could be slashed to less than £10m."

“Yet that debate cannot happen if MPs are woefully misinformed about the funding of the royals. Hundreds of people have written to their MPs in recent weeks, and the replies suggest members of parliament from all sides do not have a good grasp of the huge costs of the royals.”