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Royal finances: Where does the Queen get her money?

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Royal finances: Where does the Queen get her money?

 

 

The Royal Family has SLOT ONLINE opened its books to show how the Queen spent her money last year.

 

How much does the monarch receive and where does her income come from?

 

What does the Queen receive from the government?
The Queen is given a single payment by the government every year called the Sovereign Grant.

 

Last year this was set at £85.9m - the equivalent of £1.29 per person in the UK.

 

What is the Sovereign Grant spent on?
It is used by the Queen and other members of the Royal Family to pay for official royal duties.

 

It also covers the upkeep of occupied royal palaces:

 

  • Buckingham Palace
  • St James's Palace
  • Kensington Palace
  • the Royal Mews and Royal Paddocks at Hampton Court
  • Windsor Castle

 

Last year, £51.5m was spent on official duties - including staff wages and travel - and property maintenance. The remaining £34.4m went on the on-going refurbishment of Buckingham Palace.

 

Where does money for the Sovereign Grant come from?
The payment is based on the profits of the Crown Estate, a property business owned by the monarch but run independently.

 

Among its holdings are Regent Street in London and the Ascot racecourse in Berkshire.

 

The Crown Estate is controlled by a management board whose main duty is to maintain and enhance the value of the property "for the benefit of the nation's finances".

 

It is not the private property of the Queen - it merely belongs to the monarch for the duration of their reign. This means the Queen can't sell the Crown Estate or keep the revenue for herself.

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Topic starter Posted : 24/06/2021 8:18 am
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