Last week, royal officials outlined a plan for Queen Elizabeth II's official home to undergo "essential works" to replace electrical wiring, water pipes and boilers in the biggest overhaul since the 1950s.
To fund the 369 million pounds (431-million euro, USD 458 million) repairs, the government is asking parliament to approve an increase in the sovereign grant -- the annual allowance provided by the government to support the Queen in her official duties.
"There is a national housing crisis, the NHS (National Health Service) is in crisis, austerity is forcing cuts in many frontline services," Mark Johnson, who launched the online petition, wrote.
"Now the Royals expect us to dig deeper to refurbish Buckingham Palace. The Crown's wealth is inestimable. This is, in a word, outrageous," Johnson said.
The Queen's wealth is estimated to stand at 340 million pounds, according to Sunday Times Rich List 2015, making her the 302nd richest person in Britain.
Many of the comments left by those who have signed the petition echoed Johnson's sentiment.
Another signatory, named Claire M., said: "The Royal Family have sponged off the British taxpayer for long enough."
Labour, the main opposition party, has called on the royals to help, but has steered clear of asking the monarchy to foot the entire bill.
Labour's chief finance spokesman John McDonnell, a republican, said on BBC's Andrew Marr Show: "It's a public building, it's a public monument, it's a heritage building so we have to invest in it to preserve it.
In 1992, public opinion turned against the royal family amid fears taxpayers would be called upon to foot the bill after Windsor Castle, a royal residence outside London, was hit by a devastating fire.
The queen then agreed to pay 70 per cent of the 36.5 million pounds costs by opening Buckingham Palace to the public for the first time to generate extra income.
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