Queen of england pay freeze - The Queen is set to feel the pinch of the economic downturn as she faces a pay freeze until 2015.
The royal household is set to see six consecutive years of funding cuts - affecting the Queen’s income, which has dropped in real terms since 2009. queen of england pay freeze,
The austerity measures mean the monarch’s royal palace repairs will likely be halted.
And any extra taxpayers’ money previously used to fund the court of the Duke and Duchess of Cambridge, will also no longer be available, according to the Sunday Times.
The Prince of Wales will be responsible for the costs of providing staff for the Duke and Duchess of Cambridge, until Charles becomes king. queen elizabeth ii lineage,
While the Queen won’t see a pay rise until at least 2015 following the replacement of the civil list with the sovereign grant.
The monarch’s funding is now linked to profits at the Crown Estate instead of taxpayers’ money paying for royal travel and royal palaces. Elizabeth Alexandra Mary Windsor,
The Queen’s funding will now equal 15 per cent of the profits made two years previously by the Crown Estate, under the new law which passed six weeks ago.
The Crown Estate includes Regent Street, Windsor Great Park and over 50 per cent of the UK’s shoreline.
Chancellor George Osborne has imposed the freeze on the Queen’s taxpayer funding – setting payments at £30m per year until April 2013. queen elizabeth ii 59-year reign,
But she will receive a further one-off payment of £1m to fund the cost of the diamond jubilee.
In stark contrast, she received £77.3m from taxpayer funding in 1991-2, but since the recession she’s seen a huge drop.
In 2008-9 it had fallen to £38.3m, while last year she received only £32.1m, according to an official Treasury briefing document placed in the House of Commons and House of Lords libraries.
The Sunday Time reported that the Sovereign Grant Bill reads: ‘The grant levels envisaged in the early years of the new system [starting in April 2013] are, in real terms, below what the Royal Household spent in every one of the last 20 years. queen elizabeth ii yearly budget,
The Crown Estate has estimated that in 2014 it will donate £250m to the Treasury, suggesting that the Queen will be paid £37.5m in the year to 2016.
The Prince of Wales’ income comes from the Duchy of Cornwall, which last year made £17.8 – which not only supports the court of William and Kate, but also Prince Harry and his future wife and family.
