Sunday 27 May 2012 9:50 pm

Queen is said to add £44bn to UK economy

A BRANDING company has claimed that it can put a value of £44bn on the British monarchy. The calculation values the sovereign’s annual contribution to the British economy and then estimates the net benefit “into perpetuity”. The £44bn includes “intangible” assets, such as the boost to tourism and goods given a royal coat of arms, at £26bn. That is considerably more than the £18bn valuation given to tangible assets such as the crown estate and art collection. The valuation, by Brand Finance, includes the costs of paying for the monarchy, the biggest of which is the £2.5bn cost of providing security to the Queen. Paying for her spending needs, including the maintenance of the nation’s royal palaces and parks, will cost the country £848m. That is dwarfed by the cost of extra bank holidays related to the monarchy, which shrink the economy by £1.1bn. Overall, however, the study says that the monarchy and the Jubilee celebrations will generate net value of £1bn this year despite extra bank holidays. The lion’s share of that benefit is to come from an uplift to tourism – £600m – and retailers – £540m.