[ad_1]
Since 2012, the old Civil List has been replaced by the Sovereign Grant. The single consolidated Sovereign Grant payment also replaced the previous system of Grants-in-Aid for royal travel, communications and information, and the maintenance of the royal palaces.
The Sovereign Grant helps to pay for the expenses of the Queen when she carries out her official duties, as well as those of her senior working royals.
There are only a select number of working royals now, including people like Prince William and Princess Anne.
But the Sovereign Grant helps contribute to the costs associated with the offices of some working royals, including things like payroll for staff and travel expenses.
Funding for the Sovereign Grant is worked out as a percentage of the profits raised from the Crown Estate.
READ MORE: Queen backs Kate hours after Duchess’ royal work dwarfed by Sussexes
“The Sovereign Grant is the funding provided to support the official duties of The Queen and maintain the Occupied Royal Palaces.
“It also includes a dedicated amount to fund the ten-year Reservicing of Buckingham Palace, a major overhaul of essential building services including electrical wiring, pipework, boilers and generators.”
Although the Sovereign Grant contributes to a large proportion of royal spending, it is not the only financial channel open to the Royal Family.
The Queen has access to the Privy Purse, with money that stems from her extensive portfolio as holder of the Duchy of Lancaster.
And Prince Charles and his heirs receive funding from the Duchy of Cornwall, which Charles inherited as heir to the throne.
[ad_2]
