King Charles begins slimming down Royal Family as he slashes £20million with big plan
King Charles has long harboured ambitions to ‘cut the monarchy down’, according to a Royal expert, and his family have slashed public spending by £20M in a year
King Charles III has fulfilled his pledge to streamline the monarchy, saving the public purse over £20million.
Despite battling cancer, the 77 year old Royal managed to fulfil more than 464 engagements. He introduced a series of cost-cutting measures to reduce the Royal expenditure
Last year, the Royal Family’s spending reached a record high, exceeding £107million.
However, this year, thanks to various cost-saving strategies – including cutting back on the £369million refurbishment of Buckingham Palace – the overall net expenditure funded by the Sovereign Grant decreased by 17 percent to £89.1million.
Despite recent health challenges – including Kate’s ongoing chemotherapy treatment – members of the Royal Family carried out more than 2,300 engagements both in the United Kingdom and abroad. These included State Visits to France and Kenya – the first outward State Visits following The Coronation, reports the Mirror.
The Sovereign Grant accounts – released today – reveal that the Royal Family spent £0.8million on celebrations for King Charles’ ascension to the throne last year. The accounts also highlighted that the Royal family were not exempt from the energy crisis affecting millions of Brits, with the electricity bill at Buckingham Palace rising by nearly £1million.
The King has expressed ambitions to streamline the monarchy, a desire he had revealed long before he ascended the throne from his mother, Queen Elizabeth II. In 2021, the broadcaster Angela Levin said on TalkRadio that the then-Prince had been planning to “cut the monarchy down” for a considerable period.
