Despite his plans to streamline the bloated institution before his death, King Charles is now presiding over the most expensive monarchy in Europe, as revealed by a new investigation conducted by RadarOnline.com.
In the newly released book titled Royal Mint, National Debt: The Shocking Truth about the Royals’ Finances by author Norman Baker, it is argued that Britain’s royal household has become an increasingly costly institution. The book meticulously traces the evolution of royal finance from its inception in 1760, when George III exchanged Crown Estate revenues for a civil list of $1.02 million annually, a practice that has now been replaced by the sovereign grant.
The sovereign grant has seen a significant surge from $10 million in 2011 to a staggering $167.8 million in 2025, representing a compound annual growth rate of over 22 percent. When factoring in other historical costs, the annual funding for the British monarchy has more than quadrupled since 2011. King Charles’ personal wealth is estimated to be as high as $2.29 billion, with the royal family controlling 250,000 acres through properties like Balmoral and Sandringham, as well as the Duchies of Lancaster and Cornwall.
A source familiar with the book’s research stated, “What shocks people is not just how high the headline figure is, but how relentlessly it has risen. There is deep concern that the monarchy has become structurally more expensive at the very moment it claims to be modernizing.” Another insider added, “The scale of hidden costs contributes to a picture far out of line with other European monarchies. People examining the data say Britain is running an imperial-era model no one else maintains.”
Comparing the public costs of maintaining monarchies across Europe, Britain’s expenditure of $167.8 million far surpasses that of other countries such as the Netherlands ($58.4 million), Norway ($30.5 million), Belgium ($15.9 million), Sweden ($14.6 million), Denmark ($13.7 million), and Spain ($9.4 million). Furthermore, the unique exemptions enjoyed by the U.K., including inheritance tax immunity and the treatment of the Duchies, conceal additional substantial expenses.
According to Republic, an anti-monarchy group, the real annual cost to the public for the British monarchy exceeded $635 million in 2024 when factoring in security, palace maintenance, and lost profits.
Baker’s book also highlights a 53 percent increase in the sovereign grant in 2025, attributed to the ongoing $456 million refurbishment of Buckingham Palace. This follows an earlier increase from 15 percent to 25 percent of Crown Estate profits in 2017, also justified by refurbishment costs. Despite palace documents indicating that between $40.6 million and $69.8 million would suffice to clear the maintenance backlog across all royal residences.
Royal events such as Charles’ coronation, Queen Elizabeth II’s funeral, Prince Philip’s funeral, and the weddings of Harry and Meghan and Eugenie, as well as the Platinum Jubilee, have all contributed to rising public expenditure.
While monarchies across Europe have taken steps to reduce costs and increase transparency, the British monarchy has maintained antiquated privileges and traditions, leading to growing criticism. As the sovereign grant continues to rise and the Crown Estate delivers record profits, the disparity between Britain’s monarchy and its European counterparts is expected to widen further.
