Queen Gets $7.5M Raise
'Sovereign grant' set at $54.5M
By Evann Gastaldo, Newser Staff
Posted Apr 3, 2013 10:32 AM CDT
Britain's Queen Elizabeth II smiles as she visits Baker Street underground station in London, Wednesday, March 20, 2013.   (AP Photo/Matt Dunham)

(Newser) – Must be nice to be Queen Elizabeth: Taxpayers just gave her a $7.5 million raise. As the AP explains, taxpayer funds cover her official duties and travel, the running of her household, and the maintenance of the royal palaces, and the "sovereign grant" has been set at more than $54.5 million for the 2013-2014 financial year. Last year's $47 million was already an inflated amount, as it included more than $1.5 million to cover the cost of the queen's Diamond Jubilee, the Guardian reports.

The sovereign grant, which came into effect Monday, replaces centuries-old royal funding systems and gives the queen 15% of the Crown Estate's profits from two years prior. So this year's figure is tied to the 2011-2012 profits, which totaled more than $363 million.

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Apr 4, 2013 4:01 PM CDT
It used to be that the sovereign kept all the money generated by the crown estates; last year that was more than $300 million. In the late 60s, the queen suggested that she "pay taxes" like everyone else. So the government gets her $300+ million and she gets something back. She's only getting 15% back so it seems to me the Brits are getting a deal. She's leaving a lot more on the table than she's receiving and the whole royal thing brings in enough tourism dollars alone to equal what she's getting. Keep up the show.
Apr 3, 2013 5:55 PM CDT
Oh, GOOD, she's been looking SO threadbare.
Apr 3, 2013 3:49 PM CDT
What a friggin parasite! And the people ACTUally SUPPORT this! So WHO'S WORSE???