Royals will not be hit by financial losses: Republic

19 May 2020

Campaigners have criticised the royal family for suggesting they will be losing millions of pounds of funding due to the coronavirus.

Campaign group Republic has pointed out that while revenue may fall the annual grant paid to the Queen will not.

That's because the Sovereign Grant Act makes it impossible for the grant to fall below the level it was at the previous year.

Graham Smith, speaking today for Republic, said:

"The palace wants to be seen to be suffering with the rest of us. What they're actually saying is that their low paid staff will face job losses or pay freezes, but not the royal family."

"The Royal Collection Trust, which manages the gallery at Buckingham Palace, will certainly lose income, but that's not connected to the funding of the royal household."

"Perhaps the Queen can explain why her lowest paid staff will face a pay freeze when she is in receipt of tens of millions of pounds from the government every year."

"The annual grant will remain at least as high as the previous year, because the law says it can't go down. That's regardless of what income is brought in from tourists or events."

"This is typical of royal spin, they confuse the picture to try to give the impression they're making cuts, or losing income, when all along they're getting more of our money every year while others lose out."

 

For more details of how the royals are funded visit www.republic.org.uk/royalfinances

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