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Palace Pinch: Royals have begun to feel the burn of rising costs and losing money

The royal family is beginning to feel the pinch like everybody else. According to reports out Thursday morning, the royals are bleeding cash with some pretty high rises in their own of cost of living and upkeep(s) of their many homes and palaces. Reports place their losses at about £18m while their expenses totaled more than £102.5m partially due to renovations that were taking place at the same time.

£9.9million was successfully raised by the palace through visitor program mes and other schemes that are popular with tourists and the public. But overall the palace has lost much more than it gained. There was a 41 per cent increase in spending to £54.6 million on the renovations alone.

The Sovereign Grant given to the Queen by the government to cover expenses and such via taxpayer funds stood tall at £86.3 million.

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