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24/06/2004
More royal commitments sees expenditure rise
Buckingham Palace has published for the first time a single combined report on 'Royal Public Finances' – a study which has highlighted an almost 2% rise in expenditure over the past year.
The report, which concerns funding provided by the taxpayer to finance the Head of State, concluded that the Head of State expenditure for 2003/2004 was £36.8 million – which was 1.7% higher than in the previous year.
The increase related mainly to expenditure attributed to more State Visits, major overseas tours and ceremonial costs. Excluding extraordinary commitments, this year's expenditure represented a real terms decrease of 1%, Buckingham Palace said.
The expenditure report excludes the costs of police and army security, and of armed services ceremonial duties.
The largest area of funding is the Property Grant-in-Aid, which meets the costs of property maintenance, utilities, telephones and related services of the occupied Royal Palaces. Its core funding will remain frozen at £15 million until 2005-06, having remained at that level for seven years.
Alan Reid, Keeper of the Privy Purse, said that this year's expenditure per person throughout the UK per annum amounted to 61p – or less than the price of two pints of milk.
He added: "Combining the various different sets of accounts into one single document is a further stage in achieving the greatest possible clarity and transparency in the finances of the Monarchy, where funds are provided by the taxpayer.
"The further reduction in real terms in the amount of Head of State expenditure reflects the continuous attention the Royal Household pays to obtaining the best value for money in all areas of expenditure, which in turn has helped to offset the increases in employment costs, where the Royal Household endeavours to ensure its employees are paid in line with market rates for comparable jobs."
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 receipts in respect of the Crown Estate were £170.8 million in 2002-03.
(gmcg)
The report, which concerns funding provided by the taxpayer to finance the Head of State, concluded that the Head of State expenditure for 2003/2004 was £36.8 million – which was 1.7% higher than in the previous year.
The increase related mainly to expenditure attributed to more State Visits, major overseas tours and ceremonial costs. Excluding extraordinary commitments, this year's expenditure represented a real terms decrease of 1%, Buckingham Palace said.
The expenditure report excludes the costs of police and army security, and of armed services ceremonial duties.
The largest area of funding is the Property Grant-in-Aid, which meets the costs of property maintenance, utilities, telephones and related services of the occupied Royal Palaces. Its core funding will remain frozen at £15 million until 2005-06, having remained at that level for seven years.
Alan Reid, Keeper of the Privy Purse, said that this year's expenditure per person throughout the UK per annum amounted to 61p – or less than the price of two pints of milk.
He added: "Combining the various different sets of accounts into one single document is a further stage in achieving the greatest possible clarity and transparency in the finances of the Monarchy, where funds are provided by the taxpayer.
"The further reduction in real terms in the amount of Head of State expenditure reflects the continuous attention the Royal Household pays to obtaining the best value for money in all areas of expenditure, which in turn has helped to offset the increases in employment costs, where the Royal Household endeavours to ensure its employees are paid in line with market rates for comparable jobs."
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 receipts in respect of the Crown Estate were £170.8 million in 2002-03.
(gmcg)
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