Buckingham Palace press releases

22 June 2005
 
THE FOLLOWING PRESS RELEASE IS ISSUED BY THE PRESS SECRETARY TO THE QUEEN

The Queen as Head of State costs the taxpayer just 61 pence per person per year, Buckingham Palace announced today at the publication of its annual report of royal finances.

The Royal Public Finances annual report, which includes details of public expenditure on property and travel, states that Head of State expenditure for 2004-05 at £36.7 million is 0.3% lower than in the previous year, which represents a decrease of 2.3% in real terms.

Alan Reid, Keeper of the Privy Purse, said:
"The annual cost per person in the Country, in funding the Head of State, amounts to 61 pence. This is the annual cost, not the daily, weekly or monthly cost. We are pleased that the total cost of the Monarchy is lower than it was in 2001.

"The further reduction in the amount of Head of State expenditure reflects the continuous attention the Royal Household pays to obtaining the best value for money in all areas of expenditure.

"Savings in areas such as insurance and business rates have helped to offset increases in employment costs, where the Royal Household continues to invest in its people by ensuring its employees are paid in line with market rates for comparable jobs," he added.

The main savings in the Property Grant-in-aid arise from a rate rebate for Buckingham Palace and the completion of projects in the previous year.

This was offset by increases in several other areas, in particular more inward Visits by foreign Head of State, major overseas tours and ceremonial costs.

The largest area of funding is the Property Grant-in-Aid, which meets the costs of property maintenance, utilities, telephones and related services of the Occupied Royal Palaces. Its core funding will remain frozen at £15 million until 2008-09, and will have remained at that level for ten years.

The combined report can be downloaded in four parts in pdf format:
Download the report on Head of State expenditure (pdf, 468kB)
Download the report on Civil List expenditure (pdf, 1.17MB)
Download the report on Property Services Grant-in-Aid (pdf, 2.06MB)
Download the report on Royal Travel Grant-in-Aid (pdf, 1.95MB)

You can also download a two-page annual summary in pdf format:
Download a two-page annual summary of expenditure (pdf, 148kB)

Notes to Editors:
1. Head of State Expenditure is met from public funds in exchange for the surrender by The Queen to the Government of the revenue from the Crown Estate and other hereditary revenues. The Treasury's gross receipts in respect of the Crown Estate were £177 million in 2003-04.

2. The 1972 Civil List Act requires The Royal Trustees to report on the Royal finances at least once every ten years. This reflected the view of the 1971 Select Committee, that ten yearly rather than annual reports were more consistent with the honour and dignity of the Crown.

Royal Trustees Reports are required by law to be laid before Parliament. The last Royal Trustees Report was presented in July 2000.

This Annual Report of the Civil List is not a Royal Trustees Report, and it is being published for information only.

The Annual Report is not being laid formally before Parliament and its publication does not compromise the principles set out in the 1972 Act.

3. Head of State expenditure excludes the costs of Police and Army security and of Armed Services ceremonial, as figures are not available.

4. The Royal Collection Trust Annual Report (which does not involve public funds) will be published on 29th June.