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Queen 'may have to move out of Buckingham Palace' amid £150m revamp

Around £150 million needs to be spent on a major revamp of Buckingham Palace, according to royal sources - and the Queen may need to move out while the work is done.

The full scale of the refurbishment project was outlined as the annual royal financial statement was released, revealing the official figure for royal expenditure was £35.7 million - the equivalent of 56p per person.

The sum, known as the Sovereign Grant, will help pay for some of the works, though additional funding may be needed.

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Maintaining Crown Estate is 'significant financial challenge'

The maintenance of the Crown Estate and Buckingham Palace presents a "significant financial challenge", the keeper of the Privy Purse has said.

Sir Alan Reid - the official treasurer to the Queen - said financial officers had managed to keep down expenditure.

We have contained expenditure, and that is down to strong financial planning and discipline.

We've worked hard this year to bear down on costs.

Over the coming years, the maintenance of the Estate and in particular Buckingham Palace, will present a significant financial challenge. We will continue to work closely with the trustees to ensure that the funding for the royal household reflects that challenge.

– Sir Alan Reid, Privy Purse
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Queen 'may have to move out of Buckingham Palace' amid £150m revamp

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