British monarch's income falls to £9.4m

Thursday, June 24, 2021

Britain's Queen Elizabeth II’s income was hit hard by the coronavirus pandemic as lockdowns and travel restrictions led to a 53 percent decline in takings from tourists visiting royal palaces, Bloomberg reports.

Buckingham Palace and Windsor Castle in England alongside the Palace of Holyrood House in Scotland are among the royal residences which would usually be open to visitors.

Mothballing them cut the sovereign’s income to £9.4 million (US$13.1 million) in 2020-21 from 20.2 million pounds a year earlier, according to annual accounts published Thursday.

British taxpayers funded the Queen to the tune of £85.9 million in 2020-21, the royal accounts show.

Of that, £51.5 million went toward official travel, property maintenance and the operating costs of the monarch’s household.

An additional £34.4 million went toward renovating Buckingham Palace in London.

The queen’s official expenditure is paid for by the British public in exchange for the surrender of the revenue from the Crown Estate -- lands traditionally held by the monarch.