Campaigners have called for more honest financial reporting from the Royal Household and a full review of climbing costs.
The call comes after the palace published its latest annual accounts, showing another year-on-year increase in spending, while ignoring significant areas of spending such as security and costs met by local councils.
Republic's own research shows the true annual cost of the monarchy is at least £345m.
Graham Smith, speaking for Republic today, said:
"The job of reporting royal spending shouldn't be left to the royals. Every year they ignore costs and lost revenue that put the total bill over £345m."
"Add the revenues of the two Duchies, which are not private estates but national property, add in security and costs met by local councils for royal visits, and the costs add up pretty quickly."
"The country faces unprecedented pressures on public spending, yet the cost of the monarchy keeps going up."
"Covid has cost the country billions, yet the royals make no sacrifices, lose no funding, and they still mislead the country on the true scale of those costs."
"It’s time the palace finances were brought into line with those of other public bodies, with annual budgets agreed by parliament, properly scrutinised and published independently, not by the royal household."
On the question of staff diversity, Graham Smith added:
"While it’s welcomed that the palace has published data on its staff diversity, it is still the case that palace staff are not protected from race discrimination, thanks to lobbying from the Queen over the past forty years."
"There is no justification why anyone should be given an exemption from workplace discrimination laws, particularly our head of state."
A full report on royal finances can be found at www.republic.org.uk/royalfinances
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