The Queen is set to have a huge £40 million pay rise, a near-doubling of her income, whilst nurses, firefighters and soldiers are handed only a one per cent hike.
The Sovereign Grant, the allowance provided annually by the government to support the Queen in her official duties, is set to soar from £42.8 million to £82.2 million in 2018-19.
Chancellor of the Exchequer Philip Hammond is expected to confirm the figure in his autumn Budget later this year.
The rise is fuelled by record-breaking Crown Estate profits which rocketed by 8.1 per cent and a massive rethinking of how the Queen’s allowance is calculated.
Since 2012 the Sovereign Grant has been set at 15 per cent of the Crown Estate profit but last year the Tories offered to boost this to 25 per cent to fund the decade long ‘essential repairs’ to Buckingham Palace that will cost £369 million.
Added together, the Queen is set for a huge £39.4million increase next year, compared with two years earlier.
Sir Alan Reid, Keeper of the Privy Purse, told the BBC:
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.
In the last 12 months to March, The Royal Family spent a total of £56.8million, £41.9million of which came from taxpayers.
The rest came from other income, including property rents and facilities management charges.
During the year before the Royal Family spent £53.7million, a spending increase of £3.1million or 5.8 per cent.
Emily Murray is a journalist at UNILAD. She graduated from the University of Leeds with a BA in English Literature and History before studying for a Masters in Journalism at the University of Salford. Emily has previously worked for the BBC, ITV and Trinity Mirror. When Emily isn’t writing about topics including mental health and entertainment, you can find her at the cinema which is her second home.