Royal yacht sales are set to be the most expensive ever, with the Queen to be one of the biggest buyers.
Read more:Royal yacht sales set to rise by £10 billionThe Queen’s annual spending, already the biggest in British history, will rise further to £100bn in 2021, with spending on royal family trips and other expenses expected to increase by more than £20bn, according to a study commissioned by the Government.
In addition, a new £5bn auction of British assets, including the Royal Mint, is set to begin on Wednesday, and will involve the sale of almost $1tn in gold.
Royal yacht auctions will be the largest ever, eclipsing the previous record of £90bn held by Princess Diana in 1997, which was also held at the same time.
A spokesperson for the Royal Household said the Queen was expected to spend a significant amount of time at her family’s private islands and estates.
The new sale will see the Royal Family increase its overseas spending by £3bn.
The royal household said the bulk of the funds would go towards spending on state trips, including trips to France, Spain, Italy, Japan and Australia, while overseas visits and official engagements would also be funded.
“The Queen will spend a great deal of time and money on these visits and events,” the spokesperson said.
More to come…