Queen Elizabeth II HORROR: Monarchy may lose £35 million due to disastrous ...

THE ROYAL FAMILY could lose £35million from their income due to the devastating impacts of the coronavirus crisis, officials have warned.

PUBLISHED: 04:02, Fri, Sep 25, 2020 | UPDATED: 04:02, Fri, Sep 25, 2020

During an annual meeting on the royal finances, it was revealed that the monarchy is expected to lose £15million over the next three years due to a plummet of income from the Royal Collection Trust. The expected loss is due to a dramatic drop in visitors to the royal properties including Buckingham Palace and Windsor Castle.

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Expensive travel costs for the Royal Family’s international engagements has also built up over the recent financial year.

Meghan Markle and Prince Harry’s tour of South Africa came to £246,000.

Prince Charles visit to Oman following the death of Sultan Qaboos bin Said cost £210,345.

Both of the royal trips were on behalf of the UK government and the Foreign Office.

Queen Elizabeth II at Buckingham PalaceThe Royal Family could lose £35million from their income due to the coronavirus crisis (Image: getty)

The Royal Family on Buckingham Palace balconyThe monarchy is expected to lose £15million over the next three years (Image: getty)

Additionally, a £369million programme to update Buckingham Palace's electrical cabling, plumbing and heating over 10 years is also expected to be £20million short.

Sir Michael Stevens, Keeper of the Privy Purse, said: "In responding to both these financial challenges we have no intention of asking for extra funding and will look to manage the impact through our own efforts and efficiencies."

In April, a pay freeze was introduced for royal staff.

There is also a halt on recruitment as only business-critical positions are being filled.

READ MORE: Royal backlash: Queen should NOT receive millions from Treasury - poll

Buckingham PalaceThe expected loss is due to a drop in visitors to the royal properties including Buckingham Palace (Image: getty)

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