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The Monarchy costs the taxpayer almost £334million a year, a report claims.

Campaign group Republic says the amount is eight times the official figure – because of the cost of security, councils’ expenses for royal visits and lost income to the Treasury from the Duchies of Lancaster and Cornwall.

The report was commissioned as Keeper of the Privy Purse Sir Alan Reid reveals the royal household spending today.

The Queen received a Sovereign Grant of £37.9million from the Treasury for the year to April 2015.

Watch Kate Middleton laugh as Prince Georges shows his cheeky side:

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She also has income from the Duchy of Lancaster, while last year Prince Charles got £19million from the Duchy of Cornwall.

Republic CEO Graham Smith said the report, which is based on estimates, is “a challenge to spell out the full costs” of royalty.

In pictures - the Royal Family attends the Trooping the Colour ceremony: