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| Queen to receive £6m pay increase from public funds | Queen to receive £6m pay increase from public funds |
| (about 3 hours later) | |
| The Queen is to receive an 8% increase in her income from public funds, after the Crown Estate posted a £24m rise in profits. | The Queen is to receive an 8% increase in her income from public funds, after the Crown Estate posted a £24m rise in profits. |
| The Sovereign Grant, which pays for the salaries of her household, official travel and upkeep of palaces, is to be £82.2m in 2018/19 - up more than £6m. | The Sovereign Grant, which pays for the salaries of her household, official travel and upkeep of palaces, is to be £82.2m in 2018/19 - up more than £6m. |
| The grant is based on the profits of the Crown Estate portfolio, which includes much of London's West End. | The grant is based on the profits of the Crown Estate portfolio, which includes much of London's West End. |
| The Crown Estate posted a £24.7m rise in profits, to £328.8m, in 2016/17. | The Crown Estate posted a £24.7m rise in profits, to £328.8m, in 2016/17. |
| The increase in funding will take place as extensive repairs are being carried out at Buckingham Palace, costing £369m. | The increase in funding will take place as extensive repairs are being carried out at Buckingham Palace, costing £369m. |
| To help pay for the work at the palace, the percentage of the Crown Estate profits paid to the Queen will increase from 15% to 25% between 2017 and 2027. | To help pay for the work at the palace, the percentage of the Crown Estate profits paid to the Queen will increase from 15% to 25% between 2017 and 2027. |
| It comes as accounts revealed the Queen's official net expenditure increased by £2m, to almost £42m, last year. | It comes as accounts revealed the Queen's official net expenditure increased by £2m, to almost £42m, last year. |
| The Queen and the Royal Family's official travel cost the taxpayer £4.5m during 2016/17, up £500,000. | The Queen and the Royal Family's official travel cost the taxpayer £4.5m during 2016/17, up £500,000. |
| Clarence House has also released its annual accounts, which showed the Prince of Wales' annual income from his hereditary estate, the Duchy of Cornwall, increased by 1.2% - to £20.7m. | Clarence House has also released its annual accounts, which showed the Prince of Wales' annual income from his hereditary estate, the Duchy of Cornwall, increased by 1.2% - to £20.7m. |
| Sir Alan Reid, Keeper of the Privy Purse, said the Queen represented "value for money". | Sir Alan Reid, Keeper of the Privy Purse, said the Queen represented "value for money". |
| "When you look at these accounts, the bottom line is the Sovereign Grant last year equated to 65p per person, per annum, in the United Kingdom. | "When you look at these accounts, the bottom line is the Sovereign Grant last year equated to 65p per person, per annum, in the United Kingdom. |
| "That's the price of a first class stamp," he added. | "That's the price of a first class stamp," he added. |
| "Consider that against what the Queen does and represents for this country, I believe it represents excellent value for money." | "Consider that against what the Queen does and represents for this country, I believe it represents excellent value for money." |
| However, Republic, which campaigns for an elected head of state, published its own report on royal expenses. | However, Republic, which campaigns for an elected head of state, published its own report on royal expenses. |
| It said, once security and other costs were included, the annual bill for the monarchy was nearer £345m. | It said, once security and other costs were included, the annual bill for the monarchy was nearer £345m. |
| Graham Smith, the organisation's chief executive, said that was a "massive bill for the taxpayer" to support "privileged lifestyles". | |
| What is the Crown Estate? | What is the Crown Estate? |