By Bankole Wright
Queen Elizabeth is to receive an 8% increase in income from public funds, after the Crown Estate‘s profits rose by £24 million.
The Sovereign Grant, which pays for the salaries of her household, official travel and upkeep of palaces, is to increase by more than £6m in 2018/19, BBC reports.
This comes as accounts last year revealed the Queen’s official net expenditure increased by £2m, to almost £42m.
Sir Alan Reid, Keeper of the Privy Purse said, “When you look at these accounts, the bottom line is the Sovereign Grant last year equated to 65p per person, per annum, in the United Kingdom.
“That’s the price of a first class stamp.
“Consider that against what the Queen does and represents for this country, I believe it represents excellent value for money.”
The Sovereign Grant, which is paid two years in arrears, is money given to the Queen by the Treasury.
It is based on the profits of the Crown Estate portfolio, which includes much of London’s West End.