Especially as they're only given £7.9M (not £40M) and most of that £7.9M pays other people's wages.
The £40M might be an estimate of total cost including building maintainence, travel costs, hospitality for visiting foreign politicians, etc, i.e. running costs that would be incurred with or without a monarchy. Or it might just be made up.
Where has this figure of £40m come from, i'm sure it's only around the £8m mark.
http://news.bbc.co.uk/1/hi/7477222.stm
The Queen's share of that cost is estimated to be £7.9M. The cost of the entire royal family is certainly not that low. Again, this figure does not include security costs, which are estimated to be as high as the US President's (figures of €7m were cited for her state visit to Ireland this year whilst the cost of her 10-day cruise holiday in Scotland was estimated to be £1m)
How many state visits and holidays do the royal family make a year? Well according to this, the Queen made a total of three, but this does not include visits or holidays made or taken by other members of the family, who'll all have their own security and travel costs to be paid for.
This is, for me, where cost of the royal family starts to take the Michael.
According to the Crown Estate report for 2010, holdings of the estate made a profit of £200 million. Not £500 million as has been claimed.
So you have a base operating cost of around £40 million, which results in a net £160 million to the treasury after the Crown Estate's annual takings. But what of these enormous security costs for all these little trips? Each one diminishing the returns made for the year. I daren't hazard a guess at what the final net benefit of the royal family is, but it cannot be anywhere near as high as those Crown Estate profits suggest.
For the sake of argument, if we were to assume annual security costs of the whole royal family to be £60m (a very modest estimate, given the previous evidence on costs imo) that's a net gain of £100m at the end of the year to the treasury. In context, in 2010 total income tax receipts for HMRC totalled £137 billion. Jesus Christ, tobacco duties amounted to £8.7 billion. And I'm supposed to be grateful for a family who have contributed three fifths of sweet FA to the greater pot of tax revenue? Their contributions are peanuts.
Do me a favour.