Is the royal financial situation facing difficulties?
In a significant move towards modernization and cost-cutting, King Charles III has announced the farewell to the nine-carriage royal train, Queen Elizabeth II's favourite mode of transport. The decision comes as part of a broader drive towards fiscal discipline and value for taxpayers.
The royal train, a tradition dating back to Queen Victoria's era, has an annual upkeep cost of around £1.2 million but was used only twice in the past year at a total cost of nearly £78,000. The train requires costly upgrades to remain compatible with modern railway networks.
Gareth Barlow, joined by royal correspondent Rhiannon Mills, delves into this topic in an insightful analysis for Daily, produced by Natalie Ktena. The editors, Rosie Gillott and Philly Beaumont, have carefully curated the piece to provide a comprehensive understanding of the financial figures related to the Royal Family.
King Charles has requested a reduction in the proportion of Crown Estate profits used to fund the monarchy—from 25% to 12%—as part of his efforts towards fiscal discipline. Instead of the train, the royal family plans to rely on two newly leased helicopters that are more flexible, cost-effective, and use sustainable fuel.
Former Lib Dem MP Norman Baker, in an interview, expresses his views on why he believes the Royal Family offers a bad deal for Britain. He is the author of the book "And What Do You Do? What The Royal Family Don't Want You To Know".
The royal train will be retired by March 2027 after its current maintenance contract ends, marking the end of an era. It will have a farewell tour before potentially being displayed in a museum. James Chalmers, Keeper of the Privy Purse, frames the decision as a necessary modernization step reflecting the evolving world, emphasising that while the train has been a cherished part of national life, the monarchy must be forward-thinking and disciplined in allocating funds.
This announcement about the royal train farewell is part of the latest financial statement from Buckingham Palace, signalling a shift towards a more economically conscious approach under King Charles III's reign. Despite the historic emotional attachment to the train, especially by Queen Elizabeth II, the decision is driven by economic considerations, modernization, and sustainability efforts.
The royal family, under King Charles III's leadership, is exploring cost-effective alternatives to traditional modes of transport, such as the leasing of two helicopters instead of maintaining the nine-carriage royal train. The decision to retire the royal train is part of a broader initiative towards fiscal discipline and a more economically conscious approach in the monarchy's financial dealings, as evidenced by the shift away from using the train, which has an annual maintenance cost of £1.2 million.
