What the royal family’s decadent lifestyle costs British taxpayers

Buckingham Palace, the administrative headquarters of the British monarch, released its 2017-18 annual financial statement last month.

By all accounts, the pomp, circumstance and pageantry associated with the royal family costs the British people 65 pence, or 86 cents, per person in the United Kingdom. Considering the queen, who acts as the head of state and head of nation, does it all for less than a dollar per person, the British people are getting “excellent value for money,” according to Keeper of the Privy Purse Sir Alan Reid.

The royal family sustains its family fortune with a deep portfolio of diversified investments, but the members also know how to spend it. Who among the royal family are big spenders, and where does the money go?

Click through to read more about how the royals spend their money.

6 PHOTOS
What the royal family’s decadent lifestyle costs taxpayers
See Gallery
What the royal family’s decadent lifestyle costs taxpayers

The Queen and the Duke of Edinburgh

Queen Elizabeth II took part in 154 official engagements in the U.K. over the last year. She traveled with Prince Philip to various parts of the U.K., including a trip to the University of Hull to visit the Allam Medical Building that cost roughly $40,709 (31,174 pounds).

Prince Philip ended his official engagements on August 2, 2017, although he has chosen to attend various public events since this date.

But these royals aren’t just spending money — the queen pays taxes and has done so since 1992 after volunteering to pay.

(Photo by Antony Jones/Getty Images)

The Prince of Wales and the Duchess of Cornwall

Prince Charles, heir to the throne, and his wife Camila carry out a large portion of travel engagements on behalf of the royal family. Consequently, they spent the most money in 2017-18, according to Clarence House.

Never one to skimp on luxury, Charles spent $474,878.02 (362,149 pounds) visiting India, Malaysia, Brunei and Singapore aboard the RAF Voyager, the royal family’s jet. He also rode the royal train, the most expensive mode of transport, on seven occasions, with each journey costing in the realm of $26,000 (20,000 pounds).

On a solo trip, Charles visited Antigua and Barbuda, Dominica and the British Virgin Islands in the wake of Hurricane Irma and Hurricane Maria, and racked up a $74,734.52 bill (57,000 pounds).

The travel taken on by members of the royal family has to be met with “efficiency, security and presentational requirements” given the nature of the trips, according to the financial statement.

In total, Prince Charles spent over $11 million (8.523 million pounds) on his official duties and charitable activities.

(Photo by Mark Cuthbert/UK Press via Getty Images)

The Duke and Duchess of Cambridge

Prince William and Kate Middleton, parents of three children, also dipped into the travel honeypot and dropped a cool $81,292.79 (62,000 pounds) on an official visit to Poland and Germany.

Then, on an official visit to Norway and Sweden, the couple spent $64,714.85 (49,358 pounds) on a chartered flight.

Read on if you want to know what it’d cost to have a royal baby in the U.S.

(Photo by Max Mumby/Indigo/Getty Images)

The Duke and Duchess of Sussex

Prince Harry and Meghan Markle’s wedding was watched around the world and is the likely culprit of the roughly 40 percent hike in Prince Charles’ spending this past year. Compared to the $4,627,500.06 (3,529,000 pounds) spent the previous tax year, the $6,506,561.44 (4,962,000 pounds) he spent this year coincides with the royal wedding.

No such line item explicitly stating “royal wedding” exists in the financial report; however, many interpret the bucket referred to as “other expenditure” to mean the Duke and Duchess’ nuptials and pre-wedding engagements.

(Photo by Samir Hussein/Samir Hussein/WireImage)

The Princess Royal

Queen Elizabeth II and Prince Philip’s only daughter, Princess Anne, participated in her share of royal travel engagements and visited Madagascar, Ghana, Sierra Leone, Beijing and Hong Kong. She also took trips around the U.K. Her official travels set the royals back a total of $238,354.62 (181,793 pounds).

(Photo by Max Mumby/Indigo/Getty Images)

The Duke of York

Prince Andrew is the third child of Queen Elizabeth II and Prince Philip and a full-time working member of the royal family. During his royal visits around the U.K. and trips to Asian countries like Thailand, Singapore and Hong Kong, travel for the prince cost $87,392.19 (66,654 pounds).

Click through to read more about the richest royals in the world.

(Photo by Anwar Hussein/WireImage)

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

This article originally appeared on GOBankingRates.com: What the Royal Family’s Decadent Life Costs Taxpayers

Read Full Story

Markets

DJIA 25,669.32 110.59 0.43%
NASDAQ 7,816.33 9.81 0.13%
NIKKEI 225 22,270.38 78.34 0.35%
HANG SENG 27,213.41 113.35 0.42%
DAX 12,210.55 -26.62 -0.22%
USD (per EUR) 1.14 0.01 0.68%
USD (per CHF) 1.00 0.00 0.02%
JPY (per USD) 110.49 -0.50 -0.45%
GBP (per USD) 1.28 0.00 0.35%