The funding of the Royal Family comes from a few varied sources, both public as well as private. Here is how it breaks down.
Each year, #theQueen receives a #SovereignGrant from the #treasury. The Sovereign Grant is money that comes from the Treasury– #taxpayers. It is given to the Queen and her family to carry out official duties; it pays for the royal family's travel, royal employee payroll, and palace upkeep and utilities. In 2017/18 it amounted to nearly £45.6 million. This grant was introduced in the year 2012 as a replacement for the #CivilList plus three other grants for royal travel, communications, and the maintenance of royal palaces.
Part of the funding for the Sovereign Grant is also obtained from the profits of the revenue from the #CrownEstate- the Royal family's huge portfolio of properties (~ 15% of the profits), which is reviewed every five years. In 2016, these profits totalled £304 million.
But this grant does not cover additional costs such as security and royal ceremonies- that money is sourced from other avenues.
The Queen has a private fortune which is estimated at £340 million. This money comes from the Queen’s humongous investment and property portfolio which includes inherited estates such as the #SandringhamEstate, and the #BalmoralCastle. The Queen also has a private income called the #PrivyPurse that is obtained from the net profits of the #DuchyofLancaster, which is held in trust for the sovereign. The income from the Privy Purse and private sources helps with expenditure not covered by the Sovereign Grant such as paying for expenses incurred by other royal family members and for the upkeep of the Balmoral Castle.
The #DuchyofCornwall is yet another suite of properties that is owned by the British royal family. It covers the expenses of the #PrinceofWales and his heirs i.e. William, Harry, Kate, Meghan, George, Charlotte, and Louis.Tags: british monarchy, british royal family, financial affairs of the british royal family, privy purse, queen elizabeth II, royal family investment portfolios, royal upkeep