The Royal Household now costs the UK taxpayer more than half a billion pounds a year. That's according to a new report published by campaign group Republic.

The estimated price tag of £510m includes hundreds of millions of pounds not accounted for by the Sovereign Grant.

Republic is calling on the government to slash the royal budget before making any cuts to welfare or the NHS.

The huge bill for the royals includes lost income from the Duchies of Lancaster and Cornwall, as well as an estimated £150m security bill, costs to struggling local councils and lost revenue from state buildings used exclusively by the royals.

The new report provides irrefutable evidence that the two Duchies are state property, not private estates.

See the full report here [pdf]

Speaking for Republic, Graham Smith said today:

"The half a billion pound cost of the royals represents a scandalous abuse of public money. It is the result of royal corruption and secrecy, a family that believes it can spend public money with impunity."

"If Rachel Reeves thinks tough decisions are needed in these difficult times, she needs to start with the royals. We're being told the budget will be painful. Well if that's true, the cuts must start at the top."

"How can we talk about cutting the winter fuel allowance while wasting half a billion pounds on the royals? How does the government defend this rhetoric of painful decisions when the royals cost us enough to pay 18,000 NHS nurses?"

"The Sovereign Grant is spiralling out of control, set to rise by another £45m a year. Yet the true cost of the monarchy is well over half a billion pounds. And most of that is because the royals spend hundreds of millions a year on their own private lives."

"This new report shows unequivocal proof that the Duchies are state property, not private estates. That means we effectively pay William a personal income of £23m a year."

"The royals are dishonest in claiming otherwise. The Duchies have been Crown property for hundreds of years, the parliamentary and historic record makes it clear they are not private estates."

"Republic is demanding the royal budget be slashed to below £10m, that only Charles receive any public funding, that he is given a salary pegged to that of the prime minister and that MPs hold a inquiry into this appalling waste of money."

The full report, The Half a Billion Pound Royals can be viewed at https://assets.nationbuilder.com/republic/pages/407/attachments/original/1727082261/Royal_Finances_Report_2024_FINAL_for_publication.pdf?1727082261