September 3, 2020

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Boris Johnson’s government has confirmed it will top up the Queen’s income following a significant slump in the Crown Estate’s revenue during the coronavirus crisis. We’ll send you a link to a feedback form. So, less than a year after their decision to step down as senior members of the British royal family, they are indeed becoming more and more independent. Overall, the official Sovereign Grant for April 1, 2017 to March 31, 2018 was a whopping £76.1 million (nearly $100 million). Want to bookmark your favourite articles and stories to read or reference later? The Sovereign Grant for 2019-20 is £82.4 million (Core £49.4 million and Reservicing £33.0 million). Funding for the Cambridges and Sussexes contributed to a £5.6m bill for the Prince of Wales in 2019-2020, up 11% on the previous year. That was one of the go-to criticisms of the Sussexes: give us back our money! You’ve accepted all cookies. Want an ad-free experience?Subscribe to Independent Premium. You can find our Community Guidelines in full here. The Palace of Holyroodhouse is maintained by Historic Environment Scotland. Don’t include personal or financial information like your National Insurance number or credit card details. More on the Sussexes to come. The Sovereign Grant Reserve includes £36.8 million to meet future commitments for the Reservicing of Buckingham Palace. This document contains the Sovereign Grant and Sovereign Grant Reserve annual report and accounts 2019 to 2020. ‘This royal bailout will be tough to stomach for people who love the Queen but have lost their jobs,’ says Tax Justice UK, Find your bookmarks in your Independent Premium section, under my profile. The Sovereign Grant for 2019-20 is £82.4 million (Core £49.4 million and Reservicing £33.0 million). The total Sovereign Grant for the last financial year was £82.2m - made up of a core grant of £49.3m and an extra £32.9m to help pay for the 10-year £369m refurbishment project of Buckingham Palace. Some organizations with a demonstrated record of success and a high level of employee engagement with the Bank may be invited to apply for larger grants and/or receive a grant with a multi-year term. The Core Sovereign Grant, which helps fund the work of the Queen and her household and pays for other activities like official royal travel, increased by £3.6m to £49.3m in 2018-19. It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. 1 The Occupied Royal Palaces are Buckingham Palace, St James's Palace, Windsor Castle, Hampton Court Mews, Windsor Home Park and parts of Kensington Palace. The Royal Family's Core Sovereign Grant is based on 15% of the net surplus of the crown estate - which has recorded a record £343.5m profit for the Treasury coffers during the last financial year. Thursday 24 September 2020 15:07. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. The Sovereign Grant and Sovereign Grant Reserve annual report and accounts 2019 to 2020 was laid before Parliament in response to a legislative requirement and … Authorised and contracted Reservicing commitments total £85.0 million at 31 March 2019, set out in Note 14 below. It was announced yesterday that the Sussexes have repaid the Sovereign Grant for renovations on Frogmore Cottage, their London home, estimated to be about US$3 million. Average grant size is $30,000. Official expenditure met by the total Sovereign Grant in 2018-19 amounted to £67.0 million (2017-18: £47.4 million) an increase of £19.6 million (41%) compared to the previous year, mainly due to an increase in expenditure on property maintenance, which included £14.1 million expenditure on the Reservicing of Buckingham Palace. 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