At this level, it's not far away from a Premiership footie players wedge, so how's it spent? Is there a succession of dinged Maserati's in the royal mews? Are millions splurged on tacky matching 'E&P' negro neck-chains in gold and diamonds? Does it pay for a vulgar villa in the hills of Marbella alongside the Russian mafia? Does it fund £25k a day shopping sprees for tat and bling with other people's names on from the shops on Rodeo Drive? Well, strangely no.
Most of it goes to paying wages to people. And not fat-cat high wages, but perhaps £13k a year each to a small cohort of loyal staff. And about a million a year goes on giving tea and sandwiches to the Sovereign's subjects. To be frank, £7.9m a year is absolute peanuts. It's the cost of refuse collection for a single London borough. What's more, it's the sort of budget the people who run the BBC suck up their noses every week in white powder.
In fact, the Queen's entire annual budget would pay for just 18 hours of the BBC. The BBC enjoys an income from the Licence Fee and government grant of £3,788.4m a year - some 480x the cost of the Civil List.
£7.9m will hardly buy a single radio studio in the BBC's narcissistic and hubristic new 'media city' in Salford, and the budget for running the Director-General's 'chill zones' and 'mix plazas' for all those dusty-nosed bureaucrats dwarfs the amount available to maintain and upkeep the fabric of the Royal palaces, which would, quite frankly, be rejected as suitable accommodation by the most junior BBC continuity announcement deputy producer.
We've got our priorities horribly wrong somewhere.