It also includes a dedicated amount to fund a 10-year “reservicing” of Buckingham Palace, a major overhaul of essential building services.
The royal household receives an annual taxpayer-funded Sovereign Grant, which has been calculated to be the equivalent of GBP 1.29 per person in the UK.
The palace said this year’s accounts cover a period of “significant transition” as King Charles III acceded to the throne after the passing away of his mother, Queen Elizabeth II, in September. The expenditure of the UK’s royal household rose 5 per cent last year even as the taxpayer funding towards official royal expenses remained unchanged at GBP 86.3, according to the annual accounts for 2022-23 released by Buckingham Palace on Thursday.
