Zoe Scott
Is the Monarchy a help or a hindrance?
With the coronation of King Charles III having just taken place on May 6th, the question of whether the monarchy really is worth what the tax payers are constantly forking out has never been more relevant. So, do the Monarchy really pull their own weight?
A picture of King Charles III.
Current opinions
It’s no secret that those of the younger generations aren’t too fond of the royal family, and the younger they are, the truer this fact turns out to be. In recent surveys (as per website “satista.com”, with similar results shown over BBC news), 79% of those over the age of 65 are in support of the monarchy, while only 36% of 18-24 year olds hold the same opinion. Although younger than the targets of the survey myself, I can claim with certainty that the coronation (as well as the royals it focuses on) has sparked neither excitement nor patriotism within me - and have found that many others I have conferred with have a similar opinion - although most are at least thankful for the additional day off. Even so, the statistics aren’t so cut and dry, as only 40% of 18-24 year olds would prefer an elected head of state - the remaining 24% being unsure. An elected head of state would be someone chosen by the public who would represent and defend the democracy of our nation, as well as act as figurehead and spokesperson in the political processes while offering a more non-political voice in times of crisis. While such a substantial change in the UK’s political system isn’t likely to occur for a while, the clear downwards trend in Monarchy support still begs the question: Is the Monarchy a help or a hindrance?
The royal role
As head of states, the monarchy currently go on official state visits abroad, invite other world leaders to do the same in Britain, and also hold the title of Head of the Armed Forces. They have always acted as a focus for national identity and as Head of Commonwealth helped to give a sense of stability and continuity. However, the changing views towards the Royal Family may be more than just a threat to this comfortable stability.
Historical importance
The British Monarchy has been around from the 8th century, originating from Anglo-Saxon England and early mediaeval Scotland. The facts on exactly how far back the royal lineage date vary greatly due to changes in leadership and loss of historical evidence because of this, however one surefire truth is that the royals are (factually) an imperative part of British history; having the leading hand in influencing both its own country’s trajectory as well as others. However, their history isn't necessarily a grand one, and is tainted with the mass colonisation of the British Empire and their treatment of first nation people - which many (rightfully so) believe should be left in the past. In short, the controversial nature of the Monarchy’s history likely plays a major role in its increasing lack of support - and not without good reason.
Tourism moneymakers
Whether you feel strongly towards the Monarchy or not, there’s no denying the impact their presence has on the UK economy, tourism-wise: with Buckingham Palace, the Tower of London and London itself being the most noteworthy of Britain’s “must visit” landmarks. As a matter of a fact, Brand Finance estimates that the Monarchy’s annual contribution is on average £1.7 billion per year - a huge revenue for Britain (to put it lightly). As a ‘business’ the royal family is even estimated to be with about £67 billion, showcasing their tremendous importance to the British economy. If that’s the case, however, why do the taxpayers still have to foot their bills?
How much do the taxpayers give?
Accounts released in June of 2022 show the overall cost of the royal family in taxations was £102.4 million during the previous financial year, which while certainly being nothing to sneeze at, doesn’t particularly stand up against the annual income over 16 times its size. While an attempt could be made to add the cost of the Queen’s funeral to this, speculation of the actual cost of it varies greatly - from around eight million to possibly billions (although most sources claim it to be about £8 million). Reports for how much King Charles’ coronation might cost appear slightly clearer, with estimates at up to £100 million for the event. With this added to the aforementioned price of the monarchy, the annual income is still eight times larger, although questions as to whether King Charles will use his reported personal fortune of £1.8 billion still remain.
A picture of Queen Elizabeth II.
Worked up over nothing?
Amidst a cost of living crisis, the expenses of the Monarchy can easily feel like they’re adding insult to injury, especially for all of the striking teachers, nurses, junior doctors, and public sector staff. Yet, with the facts being so glaringly obvious, perhaps people have been getting worked up over nothing. This isn’t necessarily the case, however. With coronations, funerals and an increase of 17% since previous years in taxation according to “Britishheritage.com”, the royal family is costing more money than ever before, which could create unforeseen instability for an economy that doesn’t usually see so much money being shoehorned into royal expenses. So while the help of the Monarchy does appear to outweigh the hindrance, it is my firm belief that their recent expansive spending habits are not without concern.
READ MORE LIKE THIS...
READ MORE BY...
Comments