The British public reportedly paid the Royal Family £85.9 million in taxes during to 2020-2021 tax year, according to accounts.
Accounts for the Sovereign Grant show the monarchy cost the taxpayer £87.5 million during 2020/21 – an increase of £18.1 million on the previous financial year.
With royal activity being impacted by the coronavirus pandemic, most of the major expenditure areas have fallen, with payroll down £300,00 to £24.1 million.
Travel also dropped by more than £2 million to £3.2 million, but property maintenance soared by £11.2 million to £49.5 million as the 10-year project to renovate Buckingham Palace continued.
The Sovereign Grant increased £3.5 million to £85.9 million during 2020/21 – a core element of £51.5 million funds the Queen’s official duties and her household, and an additional £34.4 million pays for ongoing reservicing costs for the palace.
Sir Michael Stevens, Keeper of the Privy Purse, said: “In the year covered by this report, we actually spent more than our grant and the supplementary income we earned, with total net expenditure of £87.5 million, a 26% increase on the previous year.
“This was largely driven by a significant increase in the reservicing spend from £21.2 million to £38.8 million, an 83% increase on the year.”
The overspend of £2.3 million was met from funds drawn from the Sovereign Grant reserve.