King Charles has decided to scrap Britain's royal train, a service dating back to Queen Victoria, because it is no longer cost-effective, as the monarchy sees its public funding soar by an extra 46 million pounds ($63 million) for the next two years.

King Charles III has accepted it’s time to decommission the train, whose history dates back to Queen Victoria, because it costs too much to operate and would have needed a significant upgrade for more advanced rail systems, Buckingham Palace said Monday.

According to the Royal accounts published this week, the royals spent a total of £2.7 million on travel by private jet, helicopters and rail last year. A single trip by the King and Queen to Australia and Samoa last October cost an astonishing £400,000.