The Queen’s already worth £300m – does she *really* need a pay rise?

A clever deal means the Queen’s pay went up by a third last year and will never go down

Last year Queen Elizabeth II earned £40m  - 29% more than the previous year.

And it’s set to go up again thanks to a deal pushed through by George Osborne insulating the royals and their businesses from public spending cuts.

The deal guarantees Buckingham Palace at least a 15% of the profits of the £9.9bn Crown Estate – known as the Sovereign Grant.

Part of the legislation that sets out what the Queen receives as the Sovereign Grant also states the amount earned cannot be less than the previous year.

Queen Money

The Crown Estate, which includes property like Regent Street and Ascot race course, was more commercially successful in the last couple of years than had been expected when the deal was first negotiated.

While it’s technically owned by the Queen, it’s managed by a board and profits earned go directly to the Treasury. Last year the public purse received £267m from the Crown Estate and then paid the Queen a Sovereign Grant at £40m.

This money is designed to pay for Her Majesty’s public duties and other expenses, such as staff.

However, after the Autumn Statement, the Queen’s cushy deal could be reduced.

Jonathan Isaby, the chief executive of the TaxPayers’ Alliance, said: “It seems odd to guarantee that, in effect, the [royal] budget will never go down. We need to look again at the settlement to ensure that the costs of the Royal Family are kept under control.”

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Readers' comments (2)

  • Anonymous

    Simple answer Yes- 63 years of service no prospect of retirement and deserves it more than any one else!

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  • 40m for all the effort,half of the top business men would not do the job for that, she has devoted her whole life to the Country, put a price on that if you can!!. Lets hope she keeps going until William is ready to take over!! What a Queen we have

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