As Buckingham Palace prepares to release its annual accounts, campaigners have rejected claims the monarchy earns money for the UK economy.


The annual accounts, released each year toward the end of June, usually ignore millions of pounds of costs.  Meanwhile royal supporters claim the royals bring millions of pounds into the UK through tourism and business.


Campaign group Republic has recently used Freedom of Information rules to ask VisitBritain for evidence of the link between the monarchy and tourism - they couldn't provide any.


The campaign has also dismissed a well known report by Brand Finance as 'full of holes' and showing 'no evidence of economic benefit'.


Graham Smith of Republic said today:


"The simple truth is this: Britain's multi-trillion pound economy is built on the innovation and hard work of everyone who works in it.  The monarchy simply makes no measurable difference."


"It's time we put the tourism myth to bed: despite years of asking for evidence from royalists, still we have no proof that tourism revenue would suffer if we abolished the monarchy."


"The Brand Finance report makes all sorts of links between economic activity and the monarchy, links that don't stand up to scrutiny.  It doesn't offer proof of economic benefit for the UK."


"The big lie from royalists is the idea the monarchy is paid for by the Crown Estate - which is simply untrue.  Or that the Queen personally owns the Crown Estate and sacrifices her own income, which is also nonsense."


"The reality is that the monarchy costs the British taxpayer dear, more than £345m a year.  That's a symptom of a secretive and unaccountable institution."


Every two years Republic publishes an up-to-date Royal Expenses report.  You can find the 2017 report at