I often hear a lot of British people saying “Whats the point of the Queen, why does she deserve my hard earned money when i didn’t elect her?” Hopefully with this Blog post i will be able to explain why in actual fact the British Monarchy is a lot more beneficial then you think. With Her Majesty’s Diamond Jubilee coming up it really does make this Blog post all the more relevant.
So just how much does the Royal Family cost to maintain, the answer, £40 million, that is about 65 pence per person, per year of tax money going to the Royal’s. Hardly anything really is it? Well let’s discuss why the Royal Family gets 65 pence of your tax money per year first. It begins with King George III, while he did own vasts amounts of land, the profit from their rental was too small to cover his expenses. He offered a deal to parliament: for the rest of his life he would forfeit the profits from the rents on his land in exchange for getting a fixed annual salary and having his debts removed. Parliament took him up on the deal, believing that one day the lands value would rack up to the point whereby profit could be made.
So how did the above deal effect the Parliament of today? Well let’s compare their profits and losses. The cost to maintain the royal family today is £40 million pounds per year as we mentioned before. But the revenue paid to the UK from the Royal lands is £200 million. So £200 million in revenue subtract £40 million in salary costs equals £160 million pounds in profit. So Great Britain earns 160 million pounds in profit, every year from the Royal Families land (Crown Estate).
Doing the individual’s math again: £160 million pounds divided by 62 million people is about £2.60 per person. So Because of the Royal Family, your taxes are actually £2.60 cheaper each year than they would otherwise be.
Why not kick they royals out and keep 100% of the revenue? Well.. King George III wasn’t the only Monarch of Great Britain to give up the profits of his land, in fact every Monarch since King George III has voluntarily turned over the profits from their land to the Great Britain. If the government stopped paying the Royal Family’s living and state expenses the Royals would be forced to take back the profits from their land. Then taxes would go up!
Plus 160 million is just the easily measurable money the United Kingdom makes from the royal family. Because a key selling point of the Monarchy today is the tourism it attracts to Great Britain.
Tourists spend A LOT of cash on Great Britain each and every year! Sure not everything they come to see is royal, but the most expensive stuff is. Americans fly across an ocean to see a land filled with Castles that aren’t plastic. Of course they could visit France & Germany who have also had monarchs, but thats exactly why they don’t. They HAD monarchs where as the UK HAS monarchs living today in their real castles. The Royal Crests you see across London, on Royal Palaces, Government Departments and even the Guardsmen uniforms are all REAL and embody and living and breathing Queen of today.
12 million tourists visit every year spending 7,000 million pounds.
For Republicans arguing that the Queen still sits in a seat/throne of power then think again.. HM powers are limited to approving Law, that is all. Sure they can advise the current Prime Minister and government on certain courses of action but overall it is up to them whether they want to take on the Queens advice.
So take away the Royals and you are left with Republican Britain, a huge loss of money, a President with all out executive power – who ironically would probably cost more as well. I remember a great British politician saying: “Its ironic that the Prime Minister goes through the week standing up against opposition, debating and arguing for laws etc. Yet no matter ow big his ego, he still has to visit the Palace every week, and bow down to Her Majesty..”