Buckingham Palace press releases
ROYAL PUBLIC FINANCES ANNUAL REPORT 2007-2008
27 June 2008THE FOLLOWING STATEMENT IS ISSUED BY THE PRESS SECRETARY TO THE QUEEN
66 pence per person per year
The Treasury contributed the equivalent of 66 pence per person in the country – less than the price of two pints of milk or a download to an ipod – to enable The Queen to carry out the duties of Head of State, 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 2007-08 at £40.0 million (including VAT of £2.6 million) has increased by 2.0% in real terms. Over the past seven years it has decreased in real terms by 3.1%.
Sir Alan Reid, Keeper of the Privy Purse, said:
‘The money provided by the taxpayer to enable The Queen to fulfil her role as Head of State, is equivalent to 66 pence per person in the country. This is the annual cost, not the daily, weekly or monthly cost and is 3.1% lower in real terms than it was in 2001.
‘The reduction in the amount of Head of State expenditure in real terms reflects the continuous attention the Royal Household pays to obtaining the best value for money in all areas of expenditure.
‘Increased expenditure on Property Maintenance in 2007-08 was made possible by deferring projects in the previous year – not as a result of increased funding.
‘Expenditure on Royal Travel, which will vary from year to year, also increased in response to the number of overseas visits undertaken at the request of the Foreign and Commonwealth Office and UK Trade & Investment.
‘During the current year, the Department for Culture Media and Sport confirmed that the Grant-in-aid for the maintenance of the Palaces would remain at £15million per annum for at least the next three years.
‘With no increase in funding for 12 years the backlog in essential maintenance projects has continued to grow. In the absence of any increase in funding the backlog of works is estimated at £32 million in today’s money.
‘This backlog relates to essential maintenance and does not include any allowance for projects such as the re-decoration of the State Rooms at Buckingham Palace, most of which were last re-decorated before The Queen’s Reign,’ he added.
FINANCIAL REPORTS 2007-2008
Download a two-page annual summary of expenditure (pdf, 188kB)
The combined report can be downloaded in four parts in pdf format:
Part I: Introduction to Head of State expenditure 2007-2008 (pdf, 569kB)
Part II: Civil List expenditure 2007 (pdf, 483kB)
Part III: Royal Travel Grant-in-Aid 2007-08 (pdf, 662kB)
Part IV: Property Services Grant-in-Aid 2007-08 (pdf, 300kB)
Notes to Editors:
1. Head of State Expenditure is met from public funds in exchange for the surrender by The Queen to the Government of the revenue from the Crown Estate and other hereditary revenues. The Treasury’s gross receipts in respect of the Crown Estate were £200 million in 2006-07.
2. The 1972 Civil List Act requires The Royal Trustees to report on the Royal finances at least once every ten years. This reflected the view of the 1971 Select Committee, that ten yearly rather than annual reports were more consistent with the honour and dignity of the Crown. Royal Trustees Reports are required by law to be laid before Parliament. The last Royal Trustees Report was presented in July 2000. This Annual Report of the Civil List is not a Royal Trustees Report, and it is being published for information only. The Annual Report is not being laid formally before Parliament and its publication does not compromise the principles set out in the 1972 Act.
3. Head of State expenditure excludes the costs of Police and Army security and of Armed Services ceremonial, as figures are not available.
Find out more about Royal finances and read previous annual reports.