Newsroom & speeches
17/10
22 June 2010
In his Budget statement today the Chancellor announced that payment to the Civil List for calendar year 2011 will be unchanged at £7.9m. Royal Household spending on support of The Queen in Her duties as Monarch in 2011 will fall from £15.1m to £14.9m. The £7m difference will be financed from the Civil List Reserve.
From 2012, support of The Queen in Her official duties will be simplified. Building on the transparency that already applies to royal finances, the Government and Royal Household will develop a new system of consolidated finance. This simpler approach will be conducive to greater efficiency and promote public understanding of Royal finances.
The Chancellor also announced, with the support of the Royal Household, that from 2012 the National Audit Office (NAO) will be responsible for the audit of the Civil List accounts and lay them in Parliament. This will align the Royal Household’s business accounts to the same standard of scrutiny as Government departments. This approach will also be extended to any new system of consolidated finance.
Non-media enquiries should be addressed to the Treasury Correspondence and Enquiry Unit on 020 7270 4558 or by e-mail to public.enquiries@hm-treasury.gov.uk
This Press Release and other Treasury publications are available on the HM Treasury website hm-treasury.gov.uk For the latest information from HM Treasury you can subscribe to our RSS feeds or email service.
To subscribe to the Treasury's press notice mailing list send an email to Press List with the words SUBSCRIBE PRESSLIST in the subject field.
To unsubscribe from the mailing list email Press List with the words UNSUBSCRIBE PRESSLIST in the subject field.
Media enquiries should be addressed to the Treasury Press Office on 020 7270 5238.