The Royal Family are already seeking ways to “plug [the] deficit” they are suffering this year. Royal commentator Richard Fitzwilliams spoke to Express.co.uk about the annual release of the monarchy’s expenditure. He noted that there had been a “very substantial shortfall” this year, and that Prince Harry and Meghan Markle’s international tour in 2019 had topped the list.
Mr Fitzwilliams told Express.co.uk: “What we’ve found, with reference to the headlines on this, is the trip to South Africa was the most expensive royal tour of the year.
“In the sense that that was news, royal tours abroad are expensive.
“In my opinion, it’s not too fair to pick that figure out.
“You basically represent the Queen, there’s the goodwill element.”
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He continued: “There’s a very important element with trade and a very important element with culture.
“The main point that tended to come across when it came to the finances is that there will be a very substantial shortfall.
“That is for the Buckingham Palace accounts.
“The expectation is that that will be met by various ‘efforts and efficiencies’. That’s what the quote is.”
Mr Fitzwilliams said: “That income doesn’t come from the taxpayer, it comes from various amounts that the Palace is able to raise themselves in various way.
“That is one of the ways they intend to plug this deficit.
“The 2019-2020 account didn’t really contain a great deal of the period which is covered by the pandemic.
“So what we’re doing is looking forward to 2021.
“It is expected that the taxpayer won’t be paying extra.”