Royal family core funding set for major increase under new grant formula
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The monarchy’s core funding, the Sovereign Grant, is projected to nearly double to £100 million annually by 2027-28.
This decision was made by the Royal Trustees, comprising outgoing Prime Minister Sir Keir Starmer, Chancellor Rachel Reeves and the King’s Keeper of the Privy Purse and Treasurer, James Chalmers.
The substantial increase is earmarked for addressing a backlog in maintenance across royal palaces, enhancing cybersecurity and installing energy-efficient heating systems, including replacing boilers at Windsor Castle.
The new funding structure will see the Sovereign Grant calculated as 20.5 per cent of Crown Estate net profits from 2027-28, an increase from the current 12 per cent.
The Royal Household stressed that the funding is not a “blank cheque” and is subject to strict value-for-money requirements, funding the institution’s work rather than personal income for members of the Royal Family.
