UK

Royals Vs Republicans: Does The Royal Family Really Pay For Itself?

24/06/2015 14:48 BST | Updated 24/06/2015 17:59 BST

Twitter has been sent into a monarchy-bashing frenzy, following reports that the Queen may have to move out of Buckingham Palace for improvement work that's set to cost the taxpayer around £150 million.

But with 13 million people living in poverty, 913,000 people using food banks last year and anti-austerity marches so big that even Russell Brand is getting involved, is ploughing £150 million into the Queen's estate a smart move?

Well - let's look at the stats.

The annual report states that the monarchy costs the UK approximately £35.7 million. That works out at about 56p per person, per year for the taxpayer.

The revenue paid to the UK from the Crown Estate is at a record £285 million. So, take away the Queen's £35.7 million, and the UK is left with £249 million. So, because of the royal family, your taxes are actually about £3.80 cheaper per year than they would be if the Queen did not rule.

The £249 million doesn't even include the money that tourism brings in, which is estimated at £500 million.

So, is £150 million money well spent on Buckingham Palace? You decide.