Wednesday, June 03, 2015

Queen Elizabeth is making too much money

The Queen will receive a 15% rise in her Sovereign Grant because of a clause in a piece of legislation that was negotiated by UK Chancellor George Osborne in 2011.

This will be under review, however, after this year's autumn statement because she is essentially making too much money.

Three years ago, the government forged a deal for Buckingham Palace that meant it would be shielded from any cuts to public funding. The deal also agreed that the monarchy would receive 15% of profits of the £9.9 billion ($15.1 billion) Crown Estate, and the amount the Queen would receive would never be less than the amount received in the previous year .... http://uk.businessinsider.com