- 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.
IN FULL
