The Queen of England and the entire royal family household cost that country a whooping $80 million a year.
The amount spent on official royal travel rose, as did the Queen’s Civil List - funds used to cover the cost of the monarch’s official duties as head of state.
Projects
But Palace officials highlighted for the second year running the backlog of essential maintenance projects that need to be carried out to royal palaces.
Sir Alan Reid, Keeper of the Privy Purse, said: "Expenditure on royal travel, which will vary from year to year, also increased in response to the number of overseas visits undertaken at the request of the Foreign and Commonwealth Office and UK Trade and Investment.
"During the current year, the Department for Culture, Media and Sport confirmed that the grant-in-aid for the maintenance of the palaces would remain at £15 million per annum for at least the next three years.
"With no increase in funding for 12 years, the backlog in essential maintenance projects has continued to grow. In the absence of any increase of funding, the backlog of work is estimated at £32 million in today’s money."
The overall cost of keeping the monarchy increased by an inflation-busting FIVE PER CENT to £40million compared with the previous financial year.
The Queen’s Civil List increased by £500,000 to £12.7million during the 2007-08 financial year, while the amount spent on royal travel rose to £6.2million - up by £600,000.
The most expensive official overseas trip was the Queen’s state visit to America last year to celebrate the 400th anniversary of the Jamestown settlement, when a plane was chartered at a cost of £381,813.
But the total figure of £40million excludes the cost of security provided by the police and Army, and the ceremonial duties performed by the Armed Forces.
Palace officials described the cost of the monarchy - 66p per person in the UK - as less than the price of two pints of milk or a download for an MP3 player.
Sir Reid said they had paid “continuous attention to obtaining value for money” where they could.
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