Queen Elizabeth’s Pay to Go to $97 Million (TAX FREE!)
Queen Elizabeth earned $54.6 million, tax-free income, from the state last year. This is known as the annual “sovereign grant.” She is receiving a substantial raise and her income will become $97 million. The big raise is being given in order to give Buckingham Palace a major face life. This will include the replacement of wiring and pipes that are more than 60 years of age. The visitor access will also be improved. The huge palace will maintain the overall design and exterior. It’s hard to tell how many of the palace rooms the Queen has walked through – considering there are 775.
Queen Pays All of Her Expenses From Account
Although the Queen receives a large salary she is also responsible for paying the costs of travel, security, staff, and the upkeep of the royal palace. Oh, and the Queen also has a secondary income. This comes from the Duchy of Lancaster. This is a private estate of commercial, agricultural and residential properties that dates back to 1265. This income brought her $19 million in income last year. This income was used to help cover official expenses.
Even with her large income each year she is not able to save much money. Last year she spent most of her money on staff and property maintenance. After her expenses she was only able to save $1.1 million. This money was placed in the “Sovereign Grant Reserve” which is basically savings for a “royal rainy-day fund.” Most of us do not earn a salary of $1.1 million let alone put it in a special fund. Most of us would be happy to place $1,000 in a special fund.
Sir Alan Reid, the official Keeper of the Privy Purse, said the official amount, paid by each person in the UK to pay for the grant, equals 83 cents. He said, “When you consider that against what the Queen does and represents for this county, I believe it represents excellent value for money.”