The True Cost of the Royal Family Explained | Summary and Q&A

TL;DR

The United Kingdom earns a profit of £160 million every year from the royal family, leading to lower taxes for its citizens.

Key Insights

• 🇻🇬 The British royal family generates a profit of £160 million each year from their rental lands.
• 🤴 The revenue from tourism, largely driven by the royal family's presence, brings in £7 billion annually.
• 🤴 Removing the royals would not lower taxes but could decrease tourism revenue and diminish the country's uniqueness.
• ✊ The political power of the modern monarchy is largely symbolic, with limited influence on governmental decisions.
• 🤴 The royal family's contribution to tourism can overshadow their cost to maintain, making them a vital asset to the UK's economy.
• 🤴 The UK's castles and royal sites are major attractions, particularly for American tourists who spend significantly on their visits.
• 🇬🇧 While the Queen remains a figurehead, removing the royal family would change the identity of the United Kingdom as a monarchy.

Transcript

look at that what a waste that Queen living it off the government in her castles with her corgis and Jin just how much does this cost to maintain 40 million that's about 65 P per person per year of tax money going to the royal family sure it's still 23 p short of a complete Shield but it might be more than you want to pay after all those are your c... Read More

Questions & Answers

Q: How does the royal family's revenue from rental lands compare to their maintenance costs?

The revenue generated from royal lands is £200 million per year, while the cost to maintain the royal family is £40 million per year, resulting in a profit of £160 million.

Q: Would removing the government's financial support for the royal family decrease individual taxes?

No, if the government stopped paying the royal family's expenses, the royals would reclaim the profits from their land. As a result, taxes would go up instead of down.

Q: How does tourism contribute to the revenue generated by the royal family?

The royal family attracts millions of tourists each year, with 12 million visitors spending £7 billion. The iconic castles and royal sites are major attractions, contributing greatly to the UK's tourism revenue.

Q: What political power does the modern monarchy hold?

The modern Queen's powers are limited to approving what Parliament wants to do. Removing the royal family from government would not fundamentally change anything.

Summary & Key Takeaways

• The British royal family costs £40 million per year to maintain, but the revenue generated from royal lands is £200 million per year.

• The profit of £160 million from the royal family lowers individual taxes by £260 each year.

• The royal family's indirect contribution through tourism brings in significant revenue, with 12 million visitors spending £7 billion annually.