Republic campaigns for Queen Elizabeth II to be replaced with an elected, democratic head of state and the monarchy to be abolished. The organisation’s CEO, Graham Smith, told Express.co.uk that the Royal Family costs the UK £345million a year and the country receives no return on that investment.
Mr Smith said: “Well for something to be value for money it needs to provide a return on the investment.
“The Royal Family costs us around £345million when we could have a comparable elected head of state for a fraction of that.
“This is money largely being spent on their private personal interests and there is no return on that investment.
“The idea that the monarchy is good for tourism is complete fiction and the original fake news.
READ MORE: Meghan Markle BLANKED by Kate and Prince William in ‘frosty reception’
“We have a £170billion tourism industry, the best figure that has ever been put out there for tourism revenue associated with the Royals is £500million which is less than half a percent of that total tourist income.
“So, if someone can give me evidence that they are net contributors then I will have a look but after years of looking the evidence is simply none existent.”
Mr Smith went on to reject Meghan Markle’s claim that her wedding generated £1billion for the United Kingdom’s economy.
Meghan Markle and Prince Harry got married in May 2018 at Windsor Castle.
“The idea that her wedding brought in £1billion is pure fiction.
“There just isn’t any evidence to support that whatsoever.
“It was a net loss for the British taxpayers and to try and justify spending public money on her wedding by making these rather weird claims is just another sign of their entitlement.”
Meghan Markle and Prince Harry stepped down as senior members of the Royal Family at the end of March 2020.
Following their departure from the Royal Family the couple spent time in Canada before moving to California.
