Queen Elizabeth to receive £6m pay increase

LONDON - The Queen is to receive an 8% increase in income from public funds, after the Crown Estate's profits rose by £24m.

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.

It comes as accounts revealed the Queen's official net expenditure last year increased by £2m, to almost £42m.

Sir Alan Reid, Keeper of the Privy Purse, said the Queen represented "excellent value for money".

He 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 Queen and the Royal Family's official travel cost the taxpayer £4.5m during 2016/17, up £500,000.

Clarence House has also released its annual accounts, which showed the Prince of Wales' annual income from his hereditary estate, the Duchy of Cornwall, increased by 1.2% - to £20.7m.

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