As murk continues to swirl around the former and not-so-grand-old Duke of York, it has emerged that he is to be stripped of his honorary naval rank of vice-admiral, just days after losing his royal title of prince.
For someone whose identity was wrapped up in being his royal highness, this will surely sting. Still, he will reportedly be getting a six-figure payout, authorised by the king, an annual stipend and a cottage on one of the many royal estates, along with an annual £20,000 pension from the navy.
It’s at times like this that one has to wonder what the actual point of the monarchy — The Firm, to its insiders — really is.
According to a 2024 report by the anti-monarchy pressure group Republic, the royals cost Britain £510m a year. The sovereign grant alone — an official payment that funds the king’s royal duties — was £86.3m in 2024/2025, and will increase to £132m in 2026. Of that eye-watering amount, £35m is earmarked for a refurb of Buckingham Palace.
Anywhere else in the world, an unelected head of state who got the job because of long-running family connections and draws deeply on what is ultimately taxpayer money to do such things as fly on private jets, maintain personal estates and refurbish mansions would be met with justifiable outrage. Some people might be inclined to call such countries “banana republics”. Except, of course, that Britain is not a republic … at least not yet.
The Republic report takes a swing at the idea that the royal family is some sort of pillar of the British tourism industry, generating cash, which, in turn, helps prop up the monarchy.
Well, maybe the monarchy is a pillar holding up the roof. And maybe the former prince, shorn of his titles, if not his hair, will be its Samson.
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