Royal Family's income to rise by £45m to more than £130m

The Royal Family is set to receive a boost of more than £45 million, with a 53% jump in its official annual income to more than £130 million. It comes as soaring profits from the Crown Estate to £1.1 billion mean the taxpayer-funded Sovereign Grant, which supports the official duties of the Royal Family, will increase from £86.

3 million in 2024/2025 to £132 million in 2025/2026. Officials have said that the increase will be used to help fund the final stages of the ten-year £369 million renovation of Buckingham Palace, keeping it on time and budget. The boost will be reviewed through legislation in 2026/27 to keep funding of the Royal Family at a “more appropriate” level, a Buckingham Palace spokesman said.

Royal Family's income to rise by £45m to more than £130m The Royal's income will rise by £45m. (Image: PA) A National Audit Office report revealed that the Palace renovation has been well managed but structural damage and the discovery of asbestos, which led to cost increases, “could have been foreseen”. The Sovereign Grant report revealed the royal household will take delivery of two new helicopters in 2024-25 to replace the existing 15-year-old ones.

The AgustaWestland AW139s are considered a “key component” in enabling the King and royal family to carry out their engagements, allowing access to remote areas of the UK, and they will replace the current Sikorsky helicopters. The King’s state Bentleys are being converted to run on bio-fuel within the.