The royal family is one of the most important families living in the United Kingdom. However, the amount of money they cost and spends is often a source of controversy.
So, how much does Queen Elizabeth actually spend in a year?
Her Majesty’s money comes from a number of sources. In fact, last year she received a £6 million pay increase from an already healthy amount.
Well, this one was a huge jump. This increase in pay came as a result of performance from the Crown Estates.
The estates are one of many sources for income for the British royal family. Also, many of these estates were established long before Queen Elizabeth’s reign started.
Many of the royal family’s income options are private, but there is also taxpayer funding, which comes via the estates.
The most immediate option for the royal family comes from the Crown Estates. This is a £13.3 billion worth portfolio of properties. No member of the royal family can sell the Crown Estates. And, profits from the properties are funnelled into the treasury.
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The treasury then gifts a certain percentage of these profits to Queen Elizabeth. And, as of 2018, this percentage is 23 per cent. This amount of money given by the treasury is used for the upkeep of the Queen’s properties and given for her official duties.
Coming onto Her Majesty’s Private income.
Her Majesty’s private income is from the Privy Purse. It is the income generated by the Duchy of Lancaster, her property and assets of 18,000 hectares of land.
This makes her worth £340 million, but the Privy Purse is run and maintained on her behalf by someone else. The Privy Purse is her private income which she spends on private purchases and some official duties.
While Queen Elizabeth could be seen as expensive, the bulk of her personal spending comes from her private income.