Queen gets record-low pay rise

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They might have to begin counting the pennies at Buckingham Palace.

Queen Elizabeth II acquired her lowest rise in public funding for the reason that UK modified its financing association with the royal household six years in the past. The UK Treasury stated in its 2018 Price range this week that Her Royal Highness will get £82.four million ($147.eight million) for the following monetary yr to fund her duties as monarch, a zero.2 per cent rise from the prior 12 months, trailing September’s 2.four per cent annual inflation price.

Queen Elizabeth's pay rise is below inflation.

Queen Elizabeth’s pay rise is beneath inflation.Credit score:AP

The Queen, 92, Britain’s longest-reigning monarch, receives public funding by means of the earnings of the property that oversees the land, palaces and jewels owned by the serving sovereign. She acquired 15 per cent of The Crown Property’s earnings from the Treasury between 2012 and 2016, however the price rose to 25 per cent the next yr to pay for Buckingham Palace’s decade-long overhaul. Based mostly on the UK’s 2017 inhabitants of 66 million, she prices every citizen £1.20 on common.

A Treasury spokesman declined to touch upon the newest figures. He stated the federal government needed to act in prior years to extend funds for Buckingham Palace. “It is an iconic constructing that pulls 1000’s of vacationers that was at critical threat of fireplace and flooding.”

Adam Pritchard, a spokesman for The Crown Property, declined to touch upon the newest grant.

Separate to The Crown Property, property owned immediately by the Queen and her instant household embody a stud farm and the world’s Most worthy stamp assortment. She has a internet price of not less than $US420 million ($593 million) from her direct holdings, in accordance with the Bloomberg Billionaires Index.

Bloomberg

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