The Queen of England is set to get a £45.6 million pay rise courtesy of the taxpayer in 2017-2018, it has been revealed.
If the formula used to calculate the amount taxpayers contribute to the monarchy’s running costs is not reviewed, the Monarch will be in line to receive extra funding.
As the Crown Estate property empire delivered a record £304.1 million to Treasury coffers, the sovereign stands to receive £45.6 million in 2017-18 – a 6.5% increase on this year’s £42.8 million. The amount would represent a 57% increase for the monarch since 2012, when she received £29 million, according to the Guardian.
The five-year grant review began in April and is ongoing. Although the percentage can be reduced, the act stipulates that the cash amount the Queen receives cannot be less than that she received the previous year. A senior palace official told the Guardian that the details of the review were “private” and that it was too early to speculate on what the result would be or what amount the Queen would receive for 2017-18, despite the fact that her earnings are financed by the taxpayer.
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