13:01 04 April 2013
The Queen will receive additional £5million in order to carry out her official duties. The Sovereign Grant, which replaces the Civil List and other grants, has been set at £36.1million for the 2013 to 2014 financial year.
The amount will cover the running costs of the Queen’s Household, salary of staff, maintenance of royal palaces in England, cost of royal travel for official engagements in the UK and overseas tours. However, police protection or security is not included in the budget. The new grant will take effect on Monday.
The new grant means the Queen will receive 15per cent of the Crown Estate profits, which is calculated two years in arrears. Profits for 2011/12 were at £240.2million.
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