LONDON โ The historic Royal Train, long a symbol of the British monarchy, is about to embark on its final journey. King Charles III has made the decision to retire the train due to prohibitive operational costs and the significant investment required to upgrade it for modern rail systems, as announced by Buckingham Palace on Monday.
James Chalmers, overseeing the kingโs financial matters, stated, โAs we progress, it is crucial not to be confined by past traditions. Just as various aspects of the royal household have evolved to align with contemporary times, the moment has arrived to part with the train. We aim to manage our resources diligently while looking ahead.โ
The Royal Train comprises nine railcars that can be connected to standard commercial trains. Its decommissioning is planned before the expiration of its current maintenance contract in 2027, concluding a tradition that started in 1869 when Queen Victoria first ordered special coaches for her journeys.
This change was disclosed at the palaceโs annual briefing on royal finances. For the fourth year running, the royal family will receive 86.3 million pounds ($118 million) in public funds, which includes 34.5 million pounds set aside for Buckingham Palaceโs refurbishment, for the fiscal year ending March 2026.
This funding, known as the Sovereign Grant, allocates 12% of earnings from the Crown Estate for the official functions of the king and other royal family members. The Crown Estate is a collection of properties held by the reigning monarch and managed by professionals, with the assets remaining inalienable by the king.
Rooted in Britainโs historical feudal system, the Crown Estate came under Parliamentโs management in 1760 when King George III agreed to a fixed payment from the Treasury in exchange.
The finances of the royal household continue to be a subject of public scrutiny, with King Charles advocating for a more frugal monarchy to ensure its future viability. While the Sovereign Grant has seen no increase over the past several years, Buckingham Palace noted that inflation has decreased its purchasing power. Had it kept pace with inflation, the grant would stand at approximately 106 million pounds this year.
Additionally, 21.5 million pounds ($29.5 million) was generated from properties not included in the Crown Estate. This revenue grew by 1.7 million pounds, fueled by record numbers of visitors to Buckingham Palace and tours showcasing the renovated East Wing.
Craig Prescott, a constitutional law specialist at Royal Holloway, University of London, who studies the monarchyโs political dimensions, remarked that while royal funding constitutes a small fraction of the British stateโs total expenditure, it yields significant benefits for the UK. He emphasized that it elevates Britainโs global presence, highlighted by events like Queen Elizabeth IIโs funeral and King Charlesโs coronation, which drew international attention and attendance.
Over the past year, King Charles visited Australia and presided over the Commonwealth Heads of Government Meeting in Samoa, marking his debut as the organizationโs leader. The royal family was prominently featured during the 80th anniversaries of both D-Day and V-E Day, commemorating World War IIโs end in Europe, and hosted state visits by leaders from Japan and Qatar to the UK.
Altogether, members of the royal family participated in 1,900 public engagements across the UK and internationally. The palaces welcomed approximately 93,000 guests at 828 hosted events.