New Bombshell Report Claims King Charles Is Running the Costliest Monarchy in Europe
While money may not make the monarchy, it surely keeps it running. New financial assessments now point to King Charles overseeing, what some observers claim, is the most expensive royal institution in Europe, with the true annual cost to the public believed to climb well beyond £635 million (838 million USD). The said estimates come from Norman Baker’s new book, Royal Mint, National Debt: The Shocking Truth about the Royals' Finances. Here, the author lays out how royal expenses have swelled despite the monarch’s promise of a more streamlined operation.
Baker’s research, as audited by Radar Online, traces spending from the 18th century to today, beginning in 1760 when George III traded Crown Estate revenues for a fixed civil list. Today that arrangement has evolved into the sovereign grant, a system Baker argues has grown at a remarkable speed, outstripping the expectations set only a decade ago. According to figures cited in the book, the grant rose from roughly $10 million in 2011 to $167.8 million in 2025, climbing at a rate that would make any accountant raise an eyebrow. When adjusting to older spending calculations, Baker argues the overall financial support for the Crown has more than quadrupled in a little over a decade.
Those who reviewed the data expressed their concerns over the rapid climb. One source familiar with the figures reportedly told Baker that people were shocked “not just how high the headline figure is, but how relentlessly it has risen.” Another warned, "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." Even modest counterparts operate at only a fraction of Britain’s total. For instance, 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).
Interestingly, groups advocating for greater transparency from the monarchy believe the official numbers may still fall short. Republic, an anti-monarchy organization, estimated in 2024 that the actual annual cost exceeds £635 million once security, lost state profits, and building upkeep are included. The renovation of Buckingham Palace alone cost about $456 million. On top of this, large-scale national events have also added significantly to the bill. King Charles’s coronation cost a staggering $91.4 million, while Queen Elizabeth II’s funeral stood above $205.7 million. Apart from this, royal weddings and jubilees have further pushed these numbers.
The debate over costs flared again when King Charles faced pointed questions from the public during a walkabout in Newmarket. As reported by PEOPLE, one man shouted, “Why does your family cost us half a billion pounds a year, Charles?” The King paused, and offered a brief “Ah, yes,” and moved on. He was then questioned why his gardeners allegedly receive minimum wage and whether it was fair for taxpayers to shoulder the Duchy of Lancaster's profits. The monarch did not reply further, though the original heckler later called him, “God bless, Your Majesty.”