460.000 was spent on wine and strong liquor
The royal annual financial report of 2021-2022 was published in the summer and it turned out that the family had to cut costs. According to the report, the royals are still facing a tough rest of the year when it comes to finances. Although with their amount of wealth, that will look very different from the financial challenges the rest of the world will face. After all, the British royals are still one of the richest families on the planet.
Back to normal
The reason why the royals have been spending more this year, is because of the “return to normality”, as Sir Michael Stevens, Keeper of the Privy Purse, Receiver General of the Duchy of Lancaster, Trustee of The Royal Collection Trust and the Military Knights of Windsor, explains. Because a lot of the restrictions have been lifted, like the one on traveling and events, the royals have been spending more on inaugural ceremonies, events and travel. Some of the costs in 2021 and 2022 include the following:
Renovation
About 118 million has been spend on general costs. That is an increase of seventeen percent compared to the year before. A big chunk of that money was used to renovate Buckingham Palace. The total costs of the renovation in 2021-2022? 63 million. And the renovations aren’t finished yet. It will take at least two to three years to completely renovate the palace and the whole project will cost about 425 million.
Travel
Another big reason for the increased spending of the royals, is travel. In the year 2021-2022, these trips cost the family 5.2 million. Compared to the year before, that is an increase of 41%. Which makes sense, since the royal family couldn’t travel much during the pandemic. The most expensive trip they took that year? The royal tour to the Bahama’s, Jamaica and Belize. Prince William and Kate spend around 260 thousand on that trip.
Other interesting expenses were: the costs for cleaning and washing, which cost the royals 808 thousand. Food and drinks cost 693 thousand and costs for wine and strong liquor of 462 thousand. Coming June, the next annual report will be published and it will be interesting to see what the royal family spent in 2022 – 2023.
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Source: Beau Monde, The Org | Image: Unsplash, Ferdinand Stöhr