Financial reports 2015-16
Published
The Royal Household today published its annual financial statement, The Sovereign Grant Report 2015-16.
During the Financial Year in question, the Sovereign Grant amounted to £40.1m. This was supplemented by additional income of £13.9m, generated from sources including property rental and facilities management charges. Total expenditure amounted to £53.7m, with the residual £0.3m transferred to the Sovereign Grant Reserve.
Highlights of the 2015-16 Report include:
- An increase of 4.5% in income generated to supplement the Sovereign Grant. Income from own resources accounted for a quarter of total expenditure.
- A 21% reduction in expenditure on official royal travel. This was accompanied by a 9% fall in greenhouse gas emissions.
- Additional investment of £4.6m in property maintenance, to address the long-term challenge of preserving the Estate.
Commenting on the Sovereign Grant Report 2015-16, the Keeper of the Privy Purse, Sir Alan Reid, said:
"This has been a positive and important year for the Sovereign Grant, during which we have signalled our priority for the future by increasing the amount spent on property maintenance. The Occupied Royal Palaces are a vital part of our national heritage, and can only be preserved through sustained investment. Additionally, I am encouraged by the increase in income generated outside the Sovereign Grant; this shows that we are meeting a key recommendation of the Public Accounts Committee. We have also been able to reduce expenditure on official travel, with the consequence that greenhouse gas emissions have fallen."
The current financial year, 2016-17, is the final year of the existing funding period for the Sovereign Grant. In line with the Sovereign Grant Act 2011, the Royal Trustees (Prime Minister, Chancellor of the Exchequer, Keeper of the Privy Purse) will review whether the level of funding remains appropriate.
sovereign_grant_summary_2015-16.pdf
(161.41 KB)
royal_travel_appendix_2015-16.pdf
(407.7 KB)
Related content
Roles to be performed at the Coronation Service at Westminster Abbey
A Speech by His Majesty The King at the Presentation of new Standards and Colours at Buckingham Palace
It is the greatest possible privilege to be able to present a new Standard and Colours to you today in a unique Tri-Service event in preparation for our Coronation.
100 Coronation Facts
Coronations and the Royal Archives
A speech delivered by The Princess of Wales at the launch of her business taskforce for Early Childhood
The societal impact we could have, if we work together on this, could transform lives for generations to come.
A Speech by His Majesty The King at the State Banquet at Schloss Bellevue, Berlin
Over all these years, and in so many ways, I have been struck by the warmth of the friendship between our nations and by the vitality of our partnership
A Speech by His Majesty The King at the German Bundestag
I can hardly begin to express the pride I feel in the strength of the partnership between our two countries. Germany, her people and distinctive culture have made such a...
A speech by His Majesty The King at the 200th Sovereign's Parade, Royal Military Academy Sandhurst
It is the lifelong friendships which are forged through shared hardship, and the humour that you find in the darkest hours of the coldest, wettest nights, which remain with...
Over 850 community and charity representatives invited to enjoy the Coronation service from Westminster Abbey
A speech delivered by The Prince of Wales at the St. Patrick’s Day Parade
I may be stepping aside, but in Colonel Catherine you have a committed, focussed, and already incredibly loyal 11th Colonel.
A Speech by His Majesty The King at the Presentation of Loyal Addresses by Privileged Bodies
You underpin the very foundations upon which our country is built