Queen Elizabeth Just Released Her Financial Statements—& They Include a *Huge* Payment from Harry & Meghan
On Thursday, Buckingham Palace published its annual financial statement, called the Sovereign Grant Report, for 2020-21. If you’re unfamiliar, the Sovereign Grant is the funding provided to support the official duties of Her Majesty and maintain all of the royal palaces. Per the official website, the grant also includes a dedicated amount to fund the ten-year reservicing of Buckingham Palace and a major overhaul of essential building services including electrical wiring, pipework, boilers and generators.
The report is a lot to take in. However, there was one part, involving Meghan Markle and Prince Harry, that particularly stood out to us. The in-depth statement includes a £2.4 million (about $2.8 million) payment from the Duke and Duchess of Sussex to reimburse the Sovereign Grant for “expenditure incurred on the refurbishment of Frogmore Cottage, most of which was recognized as income in the year.”
Frogmore Cottage is the U.K. home that the ex-royals shared with their son Archie before relocating to the U.S. At the time of their departure from official duties, the Sussexes made it clear that would pay back the S.G. for refurbishments made at Frogmore. Per People, the home remains licensed to the couple until March 31, 2022.
“The payment covers all their current obligations," Sir Michael Stevens, Keeper of the Privy Purse, told reporters of the payment according to the outlet. “The Duke and Duchess of Sussex have made a substantial contribution to the Sovereign Grant that covered the refurbishment costs of Frogmore Cottage. We are confident that it represents a good outcome.”
Now, if only we could get a look inside Frogmore to see all of the renovations ourselves.
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