The Queen has received a 20 per cent “pay rise” after a new system of funding the monarchy came into force.
Her annual tax-free government grant increased from £30 million to £36 million, excluding the £1 million she received last year to help cover the costs of the Diamond Jubilee.
Buckingham Palace today declined to explain precisely how the Queen would spend the extra cash but it is likely to be targeted on a backlog of repairs to the Palace and Windsor Castle and the first pay rise in four years for most of her 300 staff.
The bumper rise has come about as a result of the Sovereign Grant which came fully into effect yesterday.
This fixes the amount the Queen receives from the Treasury at 15 per cent of the profits of the Crown Estate two years earlier. It made £240.2 million in 2011/12.
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