Financial reports 2005-06

The Queen as Head of State costs the taxpayer just 62 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 2005-06 at £37.4 million is 4.2% higher than in the previous year. Over the past five years it has decreased in real terms by 2.5%.

Alan Reid, Keeper of the Privy Purse, said:

"The annual cost per person in the Country, in funding the Head of State, amounts to 62 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 in real terms than it was in 2001.

"The 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.

"In the current year there was a real increase of 1.4%, which mainly arises from long-haul overseas visits, undertaken at the request of the Foreign and Commonwealth Office," he added.

Other increases have arisen because of increased security vetting resulting from media attempting to gain entrance to Royal residences by deception, and Freedom of Information enquiries.

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.

annual_summary_2005-06.pdf (164.73 KB)

annual_summary_2005-06.pdf (164.73 KB)

annual_summary_2005-06.pdf (164.73 KB)

annual_summary_2005-06.pdf (164.73 KB)

travel_grant-in-aid_2005-06.pdf (1.85 MB)