The recent announcement of Prince Harry and Megan Markle’s pregnancy would be considered by most as an event to celebrate. But is the latest addition to the royal family really a joyous occasion or is it just another cost to our country?
The latest Sovereign Grant was £43 million which is money that comes from taxpayers and is given to the Royal family to carry out official duties. This is a staggering 57% increase since 2012 and raises the question whether the Royal Family have brought in a 57% increase in revenue for the country. Simply put, the answer is no but it is slightly more complicated than that. The majority of the money brought into the country as a result of the royals is through tourism meaning the figure fluctuates every year, peaking for years involving the Queen’s jubilee, royal weddings and births in the family.
The British tourism agency has reported that the royal family generates close to £500m every year in tourism revenue due to historic sites such as the Tower of London and Buckingham Palace. It helps to contribute to tourism being the third biggest industry in the UK, supporting 1 in 12 jobs. Many argue this is going to be a vital element in keeping our country afloat post Brexit due to the soft power. As great as this sounds though, these are landmarks and not the royal family themselves. The reality is most people visiting from other countries aren’t expecting to see her royal highness on the London eye so can we still claim it is the monarchy itself bringing in these revenues? This is the argument Hamilton Nolan and others use in their discussion over the monarchy’s cost as he claims, “Tourists would continue to go to the Tower of London and Buckingham Palace whether or not the Royal Family was being subsidized to the tune of tens of millions of dollars annually.”
However, this argument is not taking into account all the contributions made by the royal family to hundreds of charities, military associations, professional bodies and public service organisations. The day to day jobs of the Windsor’s mainly consists of the vital publicity work to these organisations, raising awareness and ultimately giving back to this country. They are also a huge part of our countries history and who we are, shouldn’t we be proud of being one of the last countries with a royal family? They may be costly financially, but many believe they are what makes Great Britain so great and are so prominent in our country’s rich history. Nothing brings us Brits together more than a royal celebration, especially if a day off is involved!
Daisy Woodford