The Monarchy is literally entitled to their money and status. Any and all monies they receive is in lieu of rents from the Crown lands.
Plus - the child is male, so he will get a job in the Army, Navy or Air Force. He will also probably end up shooting at Muslims - unlike your Head of State, who is one.
Ouch.
I heard a reporter say today that more public money was spent on the Obamas last year than was spent on the entire royal family.