Queen's $7.7M Raise an 'Excellent Value'

Per royal household's money manager
By Evann Gastaldo,  Newser Staff
Posted Jun 27, 2017 9:50 AM CDT
Queen Elizabeth II during day five of Royal Ascot at Ascot Racecourse, England. Saturday June 24, 2017.   (John Walton/PA via AP)

(Newser) – The Crown Estate's profits have increased by more than $30 million, which means it's time for a raise for the queen. An 8% raise, or about $7.7 million, in fact, which comes from public funds, per the BBC. (The Telegraph says the boost in the Crown Estate's profits is thanks to offshore wind farms.) The increase of the Sovereign Grant during the 2018-19 year will pay for palace maintenance, official travel, and household salaries. Sir Alan Reid, the "Keeper of the Privy Purse" (i.e., the person who handles the royal household's expenses), says that when you look at how much the Sovereign Grant amounts to per person in the UK, and then you "consider that against what the queen does and represents for this country, I believe it represents excellent value for [the] money." (Read more Queen Elizabeth II stories.)

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