Cost of taxpayer-funded grant for UK monarchy to rise by £45m

Officials said the extra cash will be funnelled into the decade-long, £369m update to Buckingham Palace. Photograph: FD/Francis Dias/Newspix International

The cost of the grant that funds the monarchy is due to increase by more than 53% in the next year to £132m – a rise of £45m.

Official royal accounts released earlier this year revealed that huge profits of over £1bn from the crown estate mean the taxpayer-funded sovereign grant, which pays for the royal family’s official duties, will increase from £86.3m in 2024-25 to £132m in 2025-26.