Royal Family Set to Receive a Significant Pay Increase This Year

The British monarchy will receive a record 132 million from the British public purse this year. The Sovereign Grant the amount paid to the monarchy by the UKs Treasury, has increased by 45 million sparking debate about royal finances. Buckingham Palace says much of the money will fund ongoing palace renovations, costing 369 million however the palace declined to give details of the costs. Campaigners argue the increase is unfair during a time of financial strain for the UK government. CEO of Republic Graham Smith called the rise scandalous and urged for royal funding to be reduced. Royal journalist Richard Palmer says the monarchy costs a fraction of the governments overall budget. Private royal incomes from the Duchies of Lancaster and Cornwall are also facing renewed scrutiny. Follow us for more royal news, history, and highlights: Subscribe to our YouTube channel (tap the bell icon and stay up to date with all the latest Royal videos ) Find us on TikTok Follow us on Facebook Tweet with us